Balaji Amines Ltd. has announced a dividend of Rs 11 per equity share for fiscal 2024. The company announced the distribution of Rs 35 crore to unitholders in the fourth quarter of the previous fiscal.
The dividend will be paid after approval from shareholders at the ensuing annual general meeting, the company announced through an exchange filing on Wednesday. This is the highest dividend announced by the company.
In comparison, in July 2023, it paid a final dividend of Rs 10 and on June 21, 2022, the company gave a final dividend of Rs 6.
In the fourth quarter, the company reported a net profit jump of 31% to Rs 72.5 crore and a revenue decline of 12% to Rs 413.9 crore.
Shares of Balaji Amines rose as much as 15.96% to Rs 2,424 apiece, the highest since March 6. It was trading 10.40% higher at Rs 2,307.75 per share, as compared with a 0.03% advance in the benchmark Nifty 50.