2:1 Bonus, 2% Dividend: Penny Stock Nears 52-Week High On Upcoming Double Rewards; Gives 137% Returns In 2024

DJ Mediaprint Logistics, a leading logistics solutions provider, witnessed stellar buying sentiment on June 19 with the stock price nearing its 52-week high levels. The reason behind upbeat sentiment in DJ Mediaprint is because the company has announced double rewards which is a bonus issue of 2:1 and a dividend payout of 2%.

DJ Mediaprint & Logistics Share Price:

DJ Mediaprint is a penny stock and ended at Rs 358.80 apiece, up by 1.64% on BSE with a market cap of Rs 388.50 crore. The stock is near its 52-week high of Rs 370 apiece.

In 2024 so far, the stock has given triple-digit returns. YTD, the stock has surged by 136.56%.

DJ Mediaprint Logistics Bonus Issue:

The company announced bonus shares in the ratio of 2:1. This would mean that the company to issue 2 free bonus shares on 1 existing equity share having a face value of Rs 10 each. The record date for the bonus issue will be determined soon.

Bonus shares are one of the many corporate actions that listed companies announce on several occasions. Bonus shares are like incentives which are free of cost given to investors. Under this corporate action, new shares are issued at the existing Face Value of equity shares of the company. Hence, the face value remains the same post-bonus issue.

DJ Mediaprint & Logistics Dividend:

The company's board has suggested a final dividend of Rs 0.20 per share or 2% having a face value of Rs 10 each for FY24.

The final dividend, if approved, by Shareholders at the ensuing AGM, will be paid to the eligible _shareholders on or before the 30th day from the date of the Annual General Meeting. For dividends, the paid-up share capital before the issue of Bonus Shares would be considered.

The record date for the dividend is fixed on July 6, 2024, for determining eligible shareholders.

DJ Mediaprint & Logistics Authorized Share Capital:

The company has also received approval for raising its Authorized Share Capital from existing Rs. 15,00_,00,000/- (Rupees Fifteen Crores Only) divided into 1,50,00,000 (One Crore Fifty Lakhs Equity Shares of Rs. IO/- (Rupees Ten Only) each to Rs. 50,00,00,000/- (Rupees Fifty Crores Only) divided into 5,00,00,000 (Five Crore) Equity Shares of Rs. 10- (Rupees Ten Only) and thereby consequent alteration to the Memorandum of Association of the Company, subject to the approval of shareholders.

About DJ Mediaprint & Logistics:

DJ Mediaprint & Logistics Ltd. is a leading provider of Integrated Printing, Logistics and Courier solutions in India and overseas with extraordinarily networked transport operations, pre-eminent quality standards and leading processes & operations.