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Gloster jumps 10% on dividend, bonus issue; stock up 118% since June 20

Gloster jumps 10% on dividend, bonus issue; stock up 118% since June 20

Gloster announced the issue of fully paid up bonus shares of Rs 10 each in the ratio of 1:1. The bonus issue is subject to the approval of shareholders in an Extra Ordinary General Meeting (EGM) of the company, Gloster said

Gloster announced an interim dividend of Rs 50 per share on 54,71,630 shares of  Rs 10/- each for the FY23 Gloster announced an interim dividend of Rs 50 per share on 54,71,630 shares of Rs 10/- each for the FY23

Gloster stock hit its upper circuit limit on Wednesday after the company announced a bonus issue of 1:1 and also dividend of Rs 50 per share.

In an exchange filing, post market hours of Monday, the company announced the issue of fully paid up bonus shares of Rs 10 each in the ratio of 1:1. The bonus issue is subject to the approval of shareholders in an Extra Ordinary General Meeting (EGM) of the company, Gloster said.

Besides, the company announced an interim dividend of Rs 50 per share on 54,71,630 shares of  Rs 10/- each for the FY23.

"The said interim dividend will be paid on or before November 30, 2022. As informed on October 31, 2022, the company has fixed Wednesday, November 16, as the record date for the purpose of ascertaining the eligibility of the shareholders for payment of interim dividend," the company said in the exchange filing.

Following the development, the scrip rose 10 per cent to Rs 1,853.35 on BSE. It is up 118 per cent over the Rs 850 level that it hit on June 20.

Meanwhile, the company elevated Ajay Kumar Agarwal as Chief Financial Officer (CFO) of the company from the post of interim CFO and Ayan Datta as Company Secretary and Compliance Officer of the company w.e.f December 1, 2022, due to resignation of Ajay Kumar Agarwal from the post of Company Secretary w.e.f lst December 2022," it said.

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