Small cap sugar stock finalizes record date for dividend purposes

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Avadh Sugar & Energy Ltd. is a small-cap company with a business in the sugar industry and a market value of Rs. 1,068 crores. With a total milling capacity of 31,200 TCD, the company operates sugar mills in Hargaon (Sitapur district, Uttar Pradesh), Seohara (Bijnor district, Uttar Pradesh), New India Sugar Mills in Hata (Kushinagar district) and Rosa Sugar Works in Rosa. (Shahjahanpur District, Uttar Pradesh). Avadh Sugar also has a cogeneration facility that can generate 74 MW of electricity and two distilleries with a combined capacity of 200 KLPD each in Hargaon and Seohara.

For the purposes of a 100% dividend, the company today announced a record date for shareholders. In its exchange filing, Avadh Sugar stated that “Further, pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Company has set the Wednesday July 13, 2022 as the record date to determine the rights of members to the final dividend of Rs. 10/- per capital share of 10/- each, if declared at the next Annual General Meeting of the Company scheduled for July 20, 2022. The Register of Shareholders and the Share Transfer Books of the Company will remain closed from Thursday July 14, 2022 until Wednesday, July 20, 2022 (both days inclusive) at the said end.”

In trading today, the stock closed at 530.05 down 0.62% from its previous close of 533.35. The stock has risen 0.78% over the past year, and year-to-date (YTD) has returned 12.12% so far in 2022. The stock has gained 12.87% over the past six months, but it has fallen 10.94% over the past month. The share price reached a 52-week high of Rs. 885 on April 22, 2022 and a 52-week low of Rs. 396 on December 20, 2021, meaning the stock is currently trading 40% below from its 52-week high and 33% above its 52-week low. Avadh Sugar shares are now trading above the five-day moving averages, but below the twenty-day, fifty-day, one-hundred-day and two-hundred-day moving averages. The RSI indicator reading for Avadh Sugar & Energy Limited is 41.30, and it is in the middle range, neither overbought nor oversold.

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