Investors queue up for JB Chemicals

JB Chemicals and Pharma shares were in demand on Monday, after it announced a hefty special dividend for the current year. The move triggered major action at the counter, with the stock outperforming the broader market to end 4.2% up at 146.3 on the BSE.

It has announced an interim dividend of 40 per share, or 2000%, translating into a dividend yield of 27% calculated on the basis of Monday's closing price. The yield prompted many investors to take delivery, because of which the delivery ratio was healthy at 40% on BSE. The company has fixed August 31 as the record date ahead of which more buying is expected from those looking to invest in high-dividend yielding stocks, according to brokers.