Servotech Power Systems Limited has announced to pay an interim dividend to its shareholder. The Delhi-based small cap company through an exchange filing informed that the board of directors has approved the payment of an interim dividend for financial year 2022-23.
Servotech Power Systems, operating in the electric or electronics sector, will pay an interim dividend of Rs 0.20 per equity share to its shareholders, the filing said.
The company has also fixed the record date for determining the eligibility of shareholders for the payment of the dividend amount. The amount would be credited directly into the bank accounts of the shareholders. The record date is February 3.
ALSO READ: Budget 2023: How to accelerate growth of Indian manufacturing sector
Besides, the company has also fixed the record date for the sub-division of the equity shares of the face value of Rs 10 each. The company had earlier announced that the board has approved a stock split in a 1:5 ratio. Once the stock split comes into effect, the face value of each share will be reduced to Rs 2.
The record date for the split is February 3, according to the latest filing.
“The board has approved and taken on record the sub-division (split) of Equity Share of the Company having a face value of Rs 10 each into one Equity Share of the face value of Rs 2 each,” Servotech Power Systems had informed exchange in a filing last month.
ALSO READ: Budget 2023: What tax experts in India really want from Finance Minister Nirmala Sitharaman
Shares of Servotech Power Systems have yielded a multibagger return of around 200 per cent in the past 6 months. The scrip quoted Rs 181.95 apiece on NSE during Friday’s trading session.
Latest Business News
