Home / Markets / Stock Markets /  Interim dividend of 50 per share announced by this textile stock along with bonus issue

Along with its earnings for the second quarter ended September 2022 pr Q2 FY23, Golster Ltd's board also announced the payment of interim dividend for the financial year 2022-2023 along with approving the issue of bonus equity shares of the company which is subject to the shareholders approval. 

“We wouid like to inform you that the Board of Directors at its meeting held on 7th November 2022, inter alia, have inter alia considered and approved the payment of Interim Dividend @ 500% i.e., Rs. 50/- per share on 54,71,630 Nos. of Equity Shares of 10/- each for the financial year 2022-2023," the company informed in an exchange filing on Monday.

The said Interim Dividend will be paid on or before 30th November 2022. As informed on 31st October 2022, the company said that it has fixed Wednesday, 16th November 2022, as the Record Date for the purpose of ascertaining the eligibility of the Shareholders for payment of Interim Dividend.

Additionally, the company has also announced bonus shares issue of 1:1 i.e. one share will be issued against every 1 held by the investor. Bonus shares are fully paid additional shares issued by a company to its existing shareholders. It said that the bonus shares will be issued from and out of Free Reserves of the Company as on 31st March 2022. 

The estimated date by which such bonus shares would be credited/dispatched could be within 2 months from the date of Board approval i.e. on or before 6th January, 2023.

The company said that its board also approved the "Issue of fully paid up Bonus equity shares of 10/- each in the ratio of 1:1 i.e 1 (One) Bonus Share for every 1 (One) Share held by the equity shareholders of the Company as on the Record Date to be fixed by the Board thereof for the purpose. The bonus issue of equity shares is subject to the approval of shareholders in an Extra Ordinary General Meeting of the Company.

Gloster Ltd is engaged in the textile industry. The company manufactures and exports all varieties of jute and jute-related products, including woven and non-woven jute geotextiles, treated fabric-rot proof, fire retardant, jute products.

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