Good news for investors! Garware Technical Fibres Ltd has decided to offer bonus shares to its shareholders.
The company announced on Thursday that it will give 4 bonus shares for every 1 share owned. This is the company’s first-ever bonus share issue.
Details of the Bonus Share Issue
For every share you own, Garware Technical Fibres will give you 4 free shares. The face value of each share is Rs 10.
However, the company has not yet announced the record date for this bonus issue, which is the date when shareholders must hold the stock to receive the bonus shares.
Company’s Stock Performance
Garware Technical Fibres’ stock has been performing well. On Thursday, the share price closed at Rs 3951.60, with a gain of 3.47% on the BSE.
Over the last 6 months, the stock price has increased by 22.69%, and investors holding the stock for a year have seen a 26% gain.
Long-term investors have also benefited. Over the past 5 years, the stock has gained 243%, and over the past 10 years, it has gained an impressive 2100%.
The company’s 52-week high is Rs 4475, and its 52-week low is Rs 3100. The company has a market capitalization of Rs 7845 crore.
The Company’s Dividend History
Garware Technical Fibres Ltd has also been rewarding its investors with dividends. In September, the company declared a dividend of Rs 3 per share when it traded as an ex-dividend stock.
Earlier in March, the company repurchased some of its shares. In 2023, Garware Technical Fibres paid a dividend of Rs 3.50 per share.
(Note: This is not investment advice. The stock market involves risks. Please consult an expert before investing.)
