The shares of Gloster Ltd gained 9.25% on Thursday’s early trades to reach an intraday high of ₹ 2,024.80 apiece on the Bombay Stock Exchange (BSE). Its shares were trading 5.11% higher at ₹ 1948.00 apiece at 12:12 PM on Thursday.
Gloster Ltd is engaged in the business of manufacturing and exporting all kinds of jute and allied products. This includes woven and non-woven jute geotextiles, floor covering, home furnishing, bags, and other related products. It serves customers worldwide.
Dividend
The company has announced the payment of an interim dividend at 500% of the face value of its shares. This comes to ₹ 50 per share, on 54,71,630 equity shares of ₹ 10/- each for the financial year 2022-2023.
It said that the interim dividend will be paid on or before November 30, 2022. Further, it has fixed Wednesday, November 16, 2022, as the record date for ascertaining the shareholders’ eligibility for payment of interim dividends.
Bonus Issue
Gloster Ltd has announced the issue of fully paid-up bonus equity shares of ₹ 10 each in the ratio of 1:1. Therefore one bonus share will be allotted for every equity share that shareholders hold as on the record date, which will be announced in due course.
The bonus shares will be credited/dispatched within two months from the date of approval by the Board, i.e., 6th January 2023.
This issue will happen out of the free reserves and/or the share premium of the company. The amount available in the free reserves of the company is ₹ 1030.57 crores and the amount required for the bonus issue is ₹ 5.47 crores.
The bonus issue is subject to the approval of shareholders in an Extra Ordinary General Meeting (EGM) of the Company.
The company has a pre-bonus paid-up share capital of ₹ 5,47,16,300 divided into 54,71,630 equity shares of a face value of ₹ 10 each. After the bonus issue, it will have a paid share capital of ₹ 10,94,32,600 divided into 1,09,43,260 equity shares with a face value of ₹ 10 each.
Written by Simran Bafna
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