The Board of GMM Pfaudler in its meeting on Wednesday considered and recommended the issue of bonus equity shares in the ratio of two new equity shares for each existing equity share (1:2), subject to approval by the shareholders and any other regulatory approvals. Subordinate.
The company said bonus share Credit will be given to those shareholders who are holding equity shares as on the record date i.e. July 12, 2022. The said bonus will be completed within 60 days from the date of credit/remittance of equity shares, as the case may be. Board approval i.e. latest by 23rd July, 2022.
The board also recommended the final dividend of 3/- per equity share for the financial year 2021-22, subject to the approval of the shareholders in the ensuing Annual General Meeting (AGM). The total dividend (including interim dividend) for the financial year 2021-22 will be 6 per equity share (pre-bonus) as compared to 5 (pre-bonus) paid in the financial year 2020-21.
Shares of GMM Pfaudler fell nearly 5% 4,293 on the BSE in Thursday’s opening deals. The stock is down more than 16% in the one-year period, whereas, it has lost around 12% so far in 2022 (YTD). GMM Pfaudler is a global leader in corrosion resistant technologies, systems and services for the chemical, pharmaceutical, food and energy industries.