This Small Cap Financial Services Firm Approves Dividend And Stock Split

In its board, Arihant Capital Markets approved the following:

Dividend

The company declared an interim dividend of Rs. 0.75 or 15% per share of FV of Rs. 5 each to the shareholders of the Company for the financial year 2021-22 and fixed March 15, 2022 as the "Record date" for the payment of interim dividend. The dividend will be paid to the eligible shareholders/ members on or after 15th March, 2022

Stock Split

Simultaneously in the same board meet, the company also approved stock split or sub-division of shares in the ratio of 5:1 i.e. For every one (1) equity share of Rs. 5/- each; five (5) equity shares of Rs.1/- each. The company also mentioned the rationale for the stock split i.e. to encourage wider participation of retail investors by making the behind the equity shares more affordable for them and to enhance the liquidity of split equity shares of the Company in stock markets.

About the company and its financials

Arihant Capital Markets The company is among the leading stock brokers in the country offering services including investment solution, corporate solution, HNI investment services and NRI services among others.

The company in the December ended quarter reported higher revenue from operation of Rs. 42.16 crore as against Rs. 37.56 crore in the previous quarter. Also, the profit after tax figure soared by a marginal amount to Rs. 12.76 crore.

Disclaimer

The above stock is mentioned just for the likely dividend pay out and stock split and is not a recommendation to buy in the share solely based on the corporate actions.