EIH Associated Hotels Ltd, a smallcap hotels and resorts stock, is set to give double rewards to investors in the form of bonus issues and dividend payout in July. Ahead of the two corporate actions, EIH stock price has witnessed heavy buying sentiment. Last week, the stock rallied by 13.5% to hit a new 52-week high.
EIH Associated Hotels Share Price:
On June 14, the smallcap stock touched a new 52-week high of Rs 925.50 apiece before ending at Rs 908.15 apiece, up by 7.51% on BSE with a market cap of Rs 2,766.96 crore. On this day, the bullish trend was driven by the company fixing record dates for upcoming bonus shares.
YTD, EIH stock is up by 94%. In a year, the stock zoomed by 77%. While its all-time gain is around 1,867.40%.
EIH Associated Hotels Bonus Issue:
EIH Associated has fixed Monday, July 29, 2024, as the record date for determining the list of eligible shareholders entitled to the issuance of Bonus Shares in the ratio of 1 (One) fully paid-up bonus equity share of Rs.10/- (Rupees Ten only) each for every 1 (One) existing fully paid-up equity share of Rs.10/- (Rupees Ten only) each, if approved by Shareholders.
Hence, the bonus issue ratio is 1:1.
As per the regulatory filing, bonus bonus shares will be issued by capitalization of Securities Premium as of 31st March 2024. The number of securities proposed to be issued is 3,04,68,147 Equity Shares having a face value of Rs. 10/-each.
Accordingly, an amount of Rs 30.46 crore will be appropriated from Securities Premium for issuance of Bonus shares. As of March 31, 2024, the shares premium of EIH Associated is at Rs 107.70 crore.
The company expects to complete the bonus issue within 2 months from the date of the Board's Approval i.e. on or before 13th August 2024.
To be eligible for these bonus shares, investors will need to hold EIH Associated equity shares as of the record date, July 29.
EIH Associated Hotels Dividend:
The company has also fixed Monday, July 29, 2024, as the record date for determining the list of eligible shareholders to receive the Final Dividend for the Financial Year 2023-24, if approved at the Forty-First Annual General Meeting of the Company, scheduled to be held on Monday, 05th August, 2024.
The company is scheduled to pay a final dividend of 60%, i.e., Rs. 6/- per equity share of face value Rs.10/- each, fully paid up for FY24 to shareholders. The payment of such dividend is subject to deduction of tax at source and will be made on or before Saturday, 31st August 2024.
About EIH Associated Hotels:
EIH Associated Hotels Limited (EAHL) is a part of one of India's leading and globally best-known hospitality business groups. Today, the group owns and manages 20 extraordinary hotels under the luxury Oberoi Hotels & Resorts brand and 10 five-star properties under the Trident Hotels brand.
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