Servotech Power Systems Limited announced that it will pay an interim dividend to its shareholders. A Delhi-based small cap company has informed that its board of directors has approved the payment of an interim dividend for the financial year 2022-23 through a filing with the exchange.
Servotech Power Systems, which operates in the electrical or electronics sector, will pay an interim dividend of Rs 0.20 per share to its shareholders, the filing said.
The company also established a record date for determining shareholders’ eligibility for dividend payments. The amount will be credited directly to the shareholder’s bank account. Recorded on February 3rd.
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In addition, the company has also determined the record date for the subdivision of the shares with a par value of Rs.10. The company had previously announced that its board of directors had approved his 1:5 stock split. The par value of each share will be reduced to Rs 2 when the stock split takes place.
The cut-off date for the split is February 3, according to the latest filings.
“The board of directors has approved and recorded the subdivision (split) of the shares of the company with a par value of Rs.10 into one share with a par value of Rs.2,” Servotech Power Systems informed the exchange in the filing of last month.
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Servotech Power Systems stock has delivered a multi-bagger return of around 200% over the past six months. Scrip quoted Rs 181.95 on his NSE during Friday’s trading session.
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