Paper Products drops ex-dividend

Paper Products lost 0.91% to Rs 108.90 at 11:37 IST on BSE as the stock turned ex-dividend today, 22 April 2014, for dividend of Rs 2.80 per share for the year ended 31 December 2013.

Meanwhile, the S&P BSE Sensex was up 38.92 points or 0.17% at 22,803.75.

On BSE, so far 23,000 shares were traded in the counter as against average daily volume of 80,710 shares in the past one quarter.

The stock hit a high of Rs 109.60 and a low of Rs 107 so far during the day. The stock had hit a record high of Rs 111.90 on Monday, 21 April 2014. The stock had hit a 52-week low of Rs 56.50 on 29 April 2013.

The stock had outperformed the market over the past one month till 21 April 2014, surging 18.68% compared with the Sensex's 4.65% rise. The scrip had also outperformed the market in past one quarter, jumping 51.07% as against Sensex's 7.12% rise.

The small-cap company has equity capital of Rs 12.54 crore. Face value per share is Rs 2.

Before turning ex-dividend, the stock offered a dividend yield of 2.54% based on the closing price of Rs 109.90 on Monday, 21 April 2014.

On a consolidated basis, Paper Products' net profit surged 66.1% to Rs 16.66 crore on 22.6% growth in net sales to Rs 279.02 crore in Q4 December 2013 over Q4 December 2012.

Paper Products offers a wide portfolio of packaging solutions that include flexible packaging, labeling technologies and specialized cartons.