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This Miniratna PSU may announce a buyback, dividend, bonus shares and stock split in one day
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Apart from its March quarter results, Balmer Lawrie and Company is also expected to announce a dividend, consider a share buyback, approve a bonus issue of shares as well as a split of its equity shares.
Diversified PSU Balmer Lawrie and Company Ltd.’s board is scheduled to meet on Friday, May 28, 2024, to consider the recommendation of a dividend on equity shares of the company for the financial year 2024, along with its March quarter results.
Besides, the company is also expected to consider a share buyback, approve a bonus issue of shares as well as a split of its equity shares.
If approved, this will mark the first instance of a stock split by the company.
Previously, Balmer Lawrie and Company had approved a bonus issue in the ratio of 3:4 in 2013, 3:1 in 2016, and 1:2 in 2019.
The company, under the ownership of Ministry of Petroleum and Natural Gas, had also approved a dividend of ₹7.5 per share last year, and ₹6.5 per share in 2022.
At 1:30 pm, the Miniratna PSU stock was trading at ₹280.20, up 3.51% on the National Stock Exchange. The stock has also been a multibagger, delivering over 125% returns in the past year.
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