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Small-cap automotive stock announces stock split. Details here

Stock market today: Board of directors of the dividend paying stock has announced 250 per cent final dividend for FY22. (MINT) — Stock market today: Board of directors of the dividend paying stock has announced 250 per cent final dividend for FY22. **(MINT)**

1 min read . Updated: 21 Jun 2022, 03:48 PM IST Asit Manohar

Dividend paying stock has announced stock split in 5:1 ratio

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One of the dividend paying stocks in FY22, Savita Oil Ltd has announced stock split in the ratio of 5:1. The board of directors of the small-cap automotive company informed Indian bourses that board of the company has decided for subdivision of the company shares from current face value of ₹10 per equity share to ₹2 per equity share. The company has already announced 250 per cent final dividend for the financial year 2021-22.

Savita Oil Limited informed Indian bourses about the development citing, "Pursuant to Regulation 30 read with Part A of Schedule III and all other applicable regulations, if any, of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Board of Directors at its meeting held today at its Registered Office at 66/67, Nariman Bhavan, Nariman Point, Mumbai 400021 has approved the following, subject to the approval of the Shareholders of the Company: Sub-division of 1 (One) equity share of face value of Rs.l0/- each into 5 (Five) equity shares of face value of Rs.2/- each."

Last month on 30th May 2022, Savita Oil had announced final dividend payment citing, "Pursuant to Regulation 30 read with Part A of Schedule III, Regulation 33 and all other applicable regulations, if any, of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Board of Directors at its meeting held today at its Registered Office at 66/67, Nariman Bhavan, Nariman Point, Mumbai 400021 has approved final dividend @250% (Le. Rs.25/- on each fully paid equity share of Rs.10/-) for the financial year 2021-22, subject to approval of the Shareholders at the ensuing Annual General Meeting of the Company."

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Current market cap of the dividend paying stock is ₹15.9 crore and the stock ended Tuesday session with a trade volume of 33,409, which is more than 3 times higher from its last 20 days average trade volume of 9,805. The dividend yield of the of the company is 2.29 per cent. Its 52-week high is ₹1830 and 52-week low is ₹932 apiece levels.

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