Elcid Investments, a penny stock that traded at a price of ₹ 2.31 apiece on the Bombay Stock Exchange, had declared a dividend of ₹ 15 per share. This is more than 6.5 times its share price. The shares will trade ex-dividend on September 22, 2022. However, investors cannot invest in the company as its shares are delisted.
Last, the stock was traded on the stock exchange on 14 June 2022 at ₹ 17 per share. So far, the company has given a dividend of ₹ 75 per share in the past five years. However, its share price has given a negative return of 86% in the past year.
Elcid Investments Limited is a Mumbai-based Non-Banking Finance Company (NBFC). It makes investments in shares, debentures, mutual funds and other financial instruments. As a result, it receives dividends from various companies. It might be possible that the company has been able to pay huge dividends to its shareholders from the dividends that it receives from its investments.
The company has 2,00,000 shares, of which, its promoters collectively hold a 74.98% stake. The remaining 50,040 shares are held by retail and other shareholders.
Written by Simran Bafna
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