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Thangamayil Jewellery Ltd. surges 120% in stock value; announces dividend 

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Thangamayil Jewellery Ltd. surges 120% in stock value; announces dividend 
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The announcement, made in conjunction with the release of the fourth-quarter financial report for FY 2023-24, highlights resilience amidst a backdrop of challenging market dynamics 

Mumbai: In a noteworthy development in the realm of small-cap gems and jewellery, Thangamayil Jewellery Ltd. has emerged as a prime contender, with its stocks skyrocketing by 120% over the past year. The surge in stock value, coupled with the company’s latest financial disclosures, has piqued the interest of investors, signaling a wave of optimism and confidence in its growth trajectory. 

Despite encountering a slight downturn in net profit, Thangamayil Jewellery Ltd. made a strategic move by declaring a significant dividend payout, accentuating its steadfast commitment to bolstering shareholder value. The announcement, made in conjunction with the release of the fourth-quarter financial report for the fiscal year 2023-24, highlights the company’s resilience amidst a backdrop of challenging market dynamics. 

The Board of Directors of Thangamayil Jewellery planned to reward its loyal investors, proposing a dividend of 60% per share. This translates to Rs 6 per equity share, based on the face value of Rs 10 each, for the fiscal year 2023-24. Notably, this move follows an interim dividend payout of Rs 4 per share dispensed in February 2024, bringing the total dividend for the year to a substantial Rs 10 per share. Such a gesture represents a 100% payout on the face value of the shares. 

With the final dividend proposal awaiting ratification at the upcoming Annual General Meeting (AGM) slated for July 25, 2024, shareholders eagerly anticipate the prospect of reaping tangible returns on their investments in Thangamayil Jewellery Ltd. Once approved, the dividend disbursement will be expedited within 30 days post-AGM. 

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Courtesy: Retail Jeweller India News

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