Dividend to buoy Strides Arcolab

Shares of Strides Arcolab are likely to see buying interest as the company board is meeting on December 10 (Tuesday) to consider special dividend for investors. The company has 27,974 shareholders, including 24,978 small investors. As of September 30, the promoters had a 27.36 per cent stake in the company, while foreign institutional investors had 53.42 per cent stake according to the BSE website. The company has announced Rs 2 or 20 per cent as dividend in May. Meanwhile, Goldman Sachs Investments Mauritius offloaded 3.80 lakh shares worth about Rs 33 crore on Friday.