1:5 Stock Split, Rs 10/Share Dividend Approved: Paper Stock Set To Become Cheaper

Small cap stock from the paper sector, Andhra Paper Ltd today approved 1:5 stock split and recommended final dividend of Rs 10/- per share (i.e. 100%) for the FY 2023-24. Last trading price of Andhra Paper Ltd share on BSE is Rs 524.80 per share with intraday gain of 1.07%. Record date for sub-division of shares is yet to be issued. The company's market capitalisation stood at Rs 2087.13 crore.

Andhra Paper share offered return of 13% in last 1-year and declined over 12% year-to-date. Andhra Paper shares offered maximum return in last 3-years at 129%. Its PE is 4.59 and ROE is 25.90. More details below:

Andhra Paper Recommends Dividend: As per the BSE filing of Andhra Paper issued as on May 14, 2024, "recommended final dividend of Rs. 10/- per share (i.e. 100%) on equity share of Rs.10/- each fully paid up for the FY 2023-24, subject to the approval of members in the ensuing 60th Annual General Meeting of the Company. The record date for ascertaining the eligibility of Members of the Company shall be decided by the authorized persons and will be intimated to the exchanges. The dividend, if approved by the Members at the ensuing 60th Annual General Meeting of the Company, will be paid within the situpated time from the date of declaration, as mentioned under the Companies Act, 2013."

Andhra Paper Approves Stock Split: The BSE filing added, "approved the Sub-Division / Split of 1 (One) Equity Share of face value of Rs.10/¬ (Rupees Ten Only) each fully paid up into 5 (Five) Equity Shares of Rs. 2/- (Rupees Two Only) each fully paid up, subject to the approval of the members of the Company in the ensuing 60th Annual General Meeting, such other statutory / regulatory approvals as maybe required."

Andhra Paper Share Performance: The 52-week high price of Andhra Paper share on BSE is Rs 675.00 per share (as on 11/10/2023) and 52-week low price is Rs 392.45 per share (as on 26/06/2023). Andhra Paper shares zoomed over 4% in last 1-month, gained over 64% in last 2-years, and surged 34% in last 5-years.

Andhra Paper Approves Change In Directorate: It informed the re-appointment of Mr. Mukesh Jain as Executive Director of the Company for a period of 3 years subject to the approval of members in the ensuing 60 th AGM of the Company. It accepted the resignation of Mr Rajendra Jain (DIN: 07250797) as Non-Executive Non Independent Director of the Company, effective May 14, 2024 due to his personal reasons.

Andhra Paper About: Andhra Paper Limited is one of the largest integrated paper and pulp manufacturers in India. Established in 1964, the company produces writing, printing and copier papers for foreign and domestic markets. Our production facilities at Rajahmundry and Kadiyam have a total production capacity of 240,000 TPA. The company employs around 2,500 employees, according to its official website.