Servotech Power Systems Limited has declared interim dividend to its shareholder. The Delhi-based small cap company informed through exchange filing that the board of directors has approved the payment of interim dividend for the financial year 2022-23.
The filing states that Servotech Power Systems, which operates in the electric or electronics sector, will pay an interim dividend of Rs 0.20 per equity share to its shareholders.
The company has also fixed the record date for determining the eligibility of shareholders for payment of dividend amount. The amount will be deposited directly into the bank accounts of the shareholders. The record date is February 3.
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In addition, the company has also fixed the record date for sub-division of equity shares of face value of Rs 10 each. The company had earlier announced that the board has approved a stock split in the ratio of 5:1. Once the stock split becomes effective, the face value of each share will come down to Rs 2.
As per the latest filing, the record date of the split is February 3.
“The Board has approved the sub-division (split) of equity share of the company into one equity share of face value of Rs 2 per equity share of face value of Rs 10 each,” Servotech Power Systems informed the exchange. In a filing last month.
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Shares of Servotech Power Systems have given multibagger returns of nearly 200 per cent in last 6 months. The stock was trading at Rs 181.95 per share on the NSE during Friday’s trading session.