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Stock Split: This multi-bagger pump producer will now divide each share into five
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The stock split will be completed within three months from the date of approval of the members of the company, KSB said in a regulatory filing.
The board of KSB Ltd. on Friday, April 26, approved splitting one equity share of ₹10 into five equity shares of ₹2 apiece, it said in an exchange filing. This is the first ever stock split carried out by the company.
The stock split will be completed within three months from the date of approval of the members of the company.
Generally, a stock split is considered by a company to increase its outstanding shares, and also improve trading liquidity by making the stock more affordable to its shareholders.
Previously, the company had announced a final dividend of ₹17.5 per share, followed by ₹15 per share dividend announced last year.
KSB Ltd is engaged in the business of manufacture of power driven pumps and industrial valves.
Shares of KSB Ltd. are trading 4% lower at ₹KSB Ltd. The stock has more than doubled over the last 12 months.
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