CDGS stock declares an interim dividend, yield goes to 2.41%

The company has said in a stock exchange filing that “Pursuant to Regulation 30 and 42 of SEBI (Listing Obligations & Disclosures Requirements), Regulations, 2015, it is hereby informed that the Board of Directors of Advani Hotels and Resorts (India) Limited (‘the Company”), at their meeting held on Friday, December 16, 2022, inter-alia approved the following: 1. Declaration of Interim Dividend (subject to tax deductible at source)* of Rs. 2.00 (Rupees Two Only) per Equity Share of face value of Rs. 2/- each for the Financial Year 2022 – 2023. 2. Fixing the RECORD DATE as December 29, 2022 for the purpose of ascertaining the eligibility of Shareholders for the payment of Interim Dividend. The Interim Dividend will be paid / dispatched on or before Sunday, January 15, 2023.”

The shares of Advani Hotels and Resorts (India) Ltd closed on Friday at ₹82.85 apiece level, up by 0.30% from the previous close of ₹82.60. The stock recorded a total volume of 32,021 shares compared to the 20-Day average volume of 34,849 shares. The stock has appreciated by 2.35% over the past five years and by 52% over the past three years. The stock has climbed 8.87% over the past year, and YTD in 2022, it has grown by 0.06%. The stock has accelerated 34.06% over the past six months and 4.41% over the past month. 

The stock had touched a 52-week-high of ₹108.20 on (08/02/2022) and a 52-week-low of ₹61.25 on (20/06/2022), indicating that at the current market price the stock is trading 23.42% below the 1 year high and 35.26% above the 1 year low. Considering the interim dividend of ₹2, the dividend yield goes to 2.41%. For the quarter ended September 2022 or Q2FY23, the company posted a promoter shareholding of 50.19% and a public stake of 49.81%. Advani Hotels and Resorts (India) has announced a 70.00% equity dividend at a face value of ₹2, or ₹1.4 per share, for the fiscal year that ended in March 2022. The dividend yield at the current share price of ₹82.85 is 1.68%.