1:1 Bonus Issue, Rs 10/Share Dividend: Small Cap Electric Stock To Trade Ex-Dividend Soon

Shares of Small cap electric sector stock, Shilchar Technologies Ltd rallied 7.17% intraday and hit new 52-week high after some key corporate announcements pertaining to bonus share and dividend. The company on July 29 approved and recommended issuance of bonus share in 1:1 ratio. Shilchar Technologies shares will trade ex-dividend on August 17 for Rs 10.00 per equity share of the face value of Rs 10/- each. Last trading price of Shilchar Technologies stock is Rs 2786.20 per share. Shilchar Technologies shares rallied 1149% in last 2-years. Check details below:

Shilchar Technologies To Go Ex-Dividend on August 17: Earlier this year on April 29, board of directors of Shilchar Technologies Ltd recommended cividend of 100% (i.e. Rs. 10/- Per Share) on the Equity shares of Rs. 10/- each to the Shareholders, subject to approval of shareholders at Annual General Meeting. The ex-dividend date is August 17, 2023.

According to today's BSE filing, "we wish to intimate you that the Register of Members and Share Transfer Books of the Company shall remain closed from 18/08/2023 to 25/08/2023 for determining eligibility of shareholders to receive dividend on Equity Shares @ Rs. 10 (100%) per share for the Financial Year 2022-23. Dividend to be declared at 37th Annual General Meeting to be held on Friday, 25 August, 2023 at 11:00 am through Video Conferencing."

Shilchar Technologies Dividend History: The company since August 7, 2002 announced 18 dividends. In 2022, it announced Rs 4.00 per share dividend.

Shilchar Technologies Recommended Bonus Share: The company on July 29 stated in its BSE filing, "The Board considered, approved and Recommended issuance of bonus shares in 1:1 ratio to the shareholders as on the record date subject to approval of the shareholders at Annual General Meeting. (Additional Details as per Annexure - A)."

Shilchar Technologies Stock Performance & Return: Last trading price of Shilchar Technologies share is Rs 2786.20 per share. Shilchar Technologies shares hit new 52-week high today. It also hit new 52-week high on July 24, July 25, and July 26. Shilchar Technologies offered shareholders return of 340% in last 1-year, 1149% return in last 2-years, and 2251% return in last 3-years.

It has a market capitalisation of Rs 1062.49 crore.

Shilchar Technologies Financial Outlook: The company for the quarter ended June 30, 2023 announced its standalone total income of Rs 69.79 crore, down 27.62% as against its last quarter total income of Rs 96.42 crore. It announced its recent quarter net profit after tax at Rs 16.38 crore.

Shilchar Technologies About: Shilchar Technologies is one of India's prominent manufacturers of Electronics & Telecom and Power & Distribution transformers. It was founded in 1990 to manufacture R-core transformers. In 1995, after an overwhelming response from the market, it ventured into the manufacturing of Ferrite transformers. It started manufacturing Distribution and Power Transformers in a phased manner from 2004 to 2007, according to its official website.

Disclaimer: The stock just highlights the dividend, bonus share 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 ay losses. Please consult a professional advisor.