Small Cap Mining Stock Rallies 25% After 5:1 Bonus Issue; Rallies 771% In 3-Yrs, Check Record Date Here

5:1 Bonus Issue: Small cap mining stock Sandur Manganese & Iron Ores Ltd shares have soared nearly 25% after the company recommended a bonus issue in the proportion of 5:1, implying shareholders will become eligible to receive 5 bonus shares for every 1 share held as on the record. Shares of Sandur Manganese & Iron Ores Ltd will trade ex-bonus on February 2, 2024.

On Jan 22, 2024, the iron ore company fixed Feb 2 as the record date for the bonus issue. Sandur Manganese shares gained 23.80% in the last 1-month only and soared 770.96% in the last 3-years. Sandur Manganese declared a final dividend of Rs 5.00 per share with the ex-dividend date fixed as September 13, 2023. The share price of Sandur Manganese & Iron Ores Ltd last closed 3.32% higher at Rs 3201.30 per share.

Sandur Manganese Bonus Issue Record Date:

In an exchange filing on Jan 22, 2024, the company said, "The Board of Directors of the Company has fixed Friday, 2 February 2024 as the Record Date for the purpose of determining the shareholders and their entitlement for issue and allotment of Bonus Equity Shares in the ratio of 5:1 i.e., 5 (Five) new fully paid-up Equity Shares of ₹10/- each for every 1 (One) existing fully paid-up Equity Share of ₹10/- each held by them."

Sandur Manganese Bonus Issue announcement:

In an exchange filing on December 18, 2024, the company said, "The Board of Directors inter alia, considered and approved the issue of Bonus Shares to the equity shareholders of the Company in the ratio of 5:1 i.e., 5 (Five) new fully paid-up Equity Shares of ₹10/- (Rupees Ten) each for every 1 (One) existing fully paidup Equity Share of ₹10/- (Rupees Ten) each held by the eligible shareholders as on the Record Date (to be determined by the Board and to be intimated to the Exchanges in due course) upon obtaining approval of the shareholders."
Sandur Manganese shares traded at Rs 2,545.7 per share on December 18, 2023.

Sandur Manganese Stock Performance & Return:

The stock's 52-week high price is Rs 3,258 per share and the 52-week low price is Rs 852.20 per share, respectively. The company has a market capitalisation of Rs 8,645.37 crore. Sandur Manganese shares soared 159.27% in the last six moths, jumped 258.75% in the last 1-year, and rallied 1007.95% in the last 5-years.

Dividend history for Sandur Manganese & Iron Ores Ltd.

Sandur Manganese & Iron Ores Ltd. has declared 22 dividends since Aug. 28, 2002.

In the past 12 months, Sandur Manganese & Iron Ores Ltd. has declared an equity dividend amounting to Rs 5.00 per share, according to Trendlyne data.

At the current share price of Rs 3201.30, Sandur Manganese & Iron Ores Ltd.'s dividend yield is 0.16%.

Sandur Manganese Quarterly Results:

For the quarter ended September 30, 2023, the company's consolidated total income stood at Rs 202.62 crore, down 46.83% from last quarter total income of Rs 381.05 crore. The company latest quarter net profit after tax stood at Rs 26.53 crore.

About Sandur Manganese & Iron Ores Ltd:

Sandur Manganese & Iron Ores Ltd is India's highly integrated and diversified commodity producer with a rich heritage and over six-and-a-half decades of experience in systematic, safe, and scientific mining. Since its inception in 1954, the Company has owned and operated the largest manganese ore mines in the private sector, along with sizeable iron ore reserves located in Sandur, Ballari district of Karnataka. As per the company website, today, the Company owns estimated reserves of about 14 MT of manganese ore.