GMM Pfaudler announces 1:2 bonus shares issue, fixes record date
Premium- The company said that the bonus shares will be credited to those shareholders who are holding the equity shares as on record date i.e., July 12
GMM Pfaudler's board at its meet on Wednesday considered and recommended the issue of bonus equity shares in the ratio of two new equity shares for every one existing equity share held (1:2), subject to approval by the shareholders and any other regulatory approvals.
The company said that the bonus shares will be credited to those shareholders who are holding the equity shares as on record date i.e., July 12, 2022. The credit/dispatch of the said bonus equity shares, as the case may be, shall be completed within 60 days from the date of approval of the board i.e., latest by July 23, 2022.
The board also recommended final dividend of ₹3/- per equity share for the financial year 2021-22, subject to approval of the shareholders at the ensuing Annual General Meeting (AGM). Total dividend for financial year 2021-22 (including interim dividend) would be ₹6 per equity share (pre-bonus) compared to ₹5 (pre-bonus) paid in financial year 2020-21.
Shares of GMM Pfaudler plunged nearly 5% to ₹4,293 on the BSE in Thursday's opening deals. The stock is down over 16% in a year's period, whereas, it has declined about 12% in 2022 (YTD) so far. GMM Pfaudler is a global leader in corrosion-resistant technologies, systems, and services for the chemical, pharmaceutical, food and energy industry.
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