In the past few days, it has been recorded that the paint sector facing a crucial time and stocks are facing a downside in prices. But Akzo Nobel India Limited is now in the headlines because of announcing the interim dividend of Rs. 70 for the financial year 2024-25. This is a mind-blowing reward for the shareholders of this paint company. Most probably shareholders were waiting for this exciting announcement by the company. Let’s unveil everything below.
Akzo Nobel India Limited is a chemical firm known for producing specialty chemicals, decorative paints, and performance coatings. It is a multinational paint manufacturer company and comes among tip paint manufacturers worldwide. This cash reward will be given by the company to its shareholders from its profit from the financial period.
Discussing the financials of the company is another interesting part. During the FY25 company reported Rs 982.29 crore in revenue for this quarter while the previous quarter reported Rs 1036.27 crore. Akzo Nobel India Limited decided the record date of this interim dividend is November 20, 2024. Shareholders will get the dividend for the quarter soon and will get the notification for the same.
“…the Record Date for the purpose of Interim Dividend as declared by the Board of Directors shall be taken as Wednesday, 20th November 2024 for ascertaining the entitlement of Members to the Interim Dividend of Rs. 70/- per share (on the face value of Rs. 10/- each) on the equity shares of the Company for the financial year 2024-25,” the company said in the filing.
Akzo Nobel India Limited reported Rs 97.86 crore net profit for the quarter against Rs 114.61 crore in the April-June quarter of FY25. The company has marked the earnings per share (EPS) at Rs 21.49 for the same quarter.
Currently, as of November 16, 2024, the company has a market cap of Rs 16,649 crore. Currently, the share price moving in the range of Rs 3600 to Rs 3800. Akzo Nobel is a leading paint manufacturer and well-known brand in the specialty chemical business, there is the possibility that this company can bring more amazing growth in the future as well.