Rs 3/Share Dividend: NBFC Co Recommends 2:1 Bonus Issue, Shares Gain 10% In 1-Week

Mid cap company from the NBFC sector, MAS Financial Services Ltd shares zoomed 1.75% intraday till 1:00 pm after its Board of Directors today approved bonus share in the proportion of 2:1. It implies shareholders will be eligible to receive 2 bonus shares for every 1 share held as on the record date. The company has yet to fix the record date for bonus share.

Earlier, MAS Financial approved an interim dividend of Rs 3.00 per share on January 10, 2024. Last trading price of MAS Financial stock on BSE is Rs 978.05 apiece. MAS Financial shares rallied 13% year-to-date and soared 62% in last 2-years. Check details below:

MAS Financial Recommends 2:1 Bonus Share Today: As per the BSE filing of the company dated January 17, 2024, "The Company crossed an important milestone of Rs. 10,000 Crore Assets Under Management {AUM)* on a consolidated basis and in order to reward the shareholders for their loyalty and investment in the Company, the Board of Directors have recommended the issue of Bonus Shares in the proportion of 2:1 i.e. 2 (Two) new 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 held by the Members of the Company as on the Record Date, subject to approval of the Members of the Company."

MAS Financial Services Declares Interim Dividend: As per the BSE filing of the company dated January 10, 2024, "We wish to provide the following information on a consolidated basis for the quarter ended December 31, 2023:

1. The consolidated AUM of the Company crossed the milestone of Rs 10,000 Crore during the quarter and stood at approximately Rs 10,225 Crore as on December 31, 2023, registering a strong growth of 27% YoY.

2. The Company continues to have adequate liquidity of approximately Rs 800 Crore as on December 31, 2023.

3. In consonance with our policy of rewarding the shareholders the board has declared an Interim Dividend of 30.00 % @ 3.00 per share."

Kamlesh Gandhi - Founder, Chairman & Managing Director, MAS Financial said, "This milestone achieved reflects upon the consistent growth of the Company across cycles. We take this opportunity to take fresh guard for our next phase of growth. We trust that the next phase of growth will not only be exciting and successful but also create value for all its stakeholders on a very large scale."

MAS Financial Services Stock Performance & Return: The 52-week high price of MAS Financial Services share on BSE is quoted at Rs 992.05 apiece and 52-week low price is quoted at Rs 680.00 apiece, respectively. It has a market capitalisation of Rs 5317.52 crore. MAS Financial Services shares gained 28% in last 6-months, rose 19% in last 1-year, rallied 10% in last 3-years, and offered return of 78% in last 5-years.

MAS Financial Services About: With a plethora of retail finance options in its arsenal, MAS is focused on fulfilling the requirements of lower income and middle-income groups of the society. It offers financial services for micro enterprises loans, SME loans, home loans, two wheeler loans, used car loans, and commercial vehicle loans to satisfy their varied needs. The focus remains on the vast lower income and middle-income groups of the society, spread across urban, semi urban and rural areas, and including formal and informal sector, according to its official website.

Disclaimer: The stock highlights the bonus share, dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.