Piramal Enterprises is currently amongst the top gainers of the day, with the stock surging up to the day’s high point at Rs.599 and currently it is around Rs.550 levels, up almost 5%. Volumes are up 3.4 times.

The shareholders of this stock be celebrating despite the company posting losses for Q4 and FY14 given the hefty dividend it has declared.

The company has stated that it will be paying a jaw dropping dividend of Rs.52.50/share of Rs.2 face value. This works to a dividend of 2625%!  Book closure for payment of this dividend is from July 17, 2014 to July 25, 2014 (both days inclusive).

The company ended Q4FY14 with a consolidated net loss of Rs.311 crore, up from loss of Rs.200 crore in previous Q4 and Rs.11 crore loss in Q3FY14. Forex loss of Rs.14 crore, huge interest burden of Rs.270 crore for Q4 and Rs.1049 crore for FY14 did it in. Taxes have also shot up by almost 7 times (YoY) and 3 times sequentially.

It ended FY14 with a consolidated net loss at Rs..501 crore, up from the loss of Rs.227 crore in FY13.