Gujarat Toolroom Limited announced a significant 100% dividend during its latest board meeting held on 8 April 2024. This move highlights the company’s strong financial position and sound management strategy, with the record date set for 20 April 2024.
Shareholders can expect a dividend payment ₹45 per share, which is the same as the current share price.
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“After deep discussions and careful consideration of the financial performance of the company, the Board of Directors unanimously considered and declared a Provisional Dividend of 100%. The provisional dividend must be paid within 30 days from the date of its declaration. This decision reflects our confidence in the company’s robust financial health and our commitment to rewarding our valued shareholders for their steadfast support and trust,” the company said in an April 8 exchange filing.
The announcement of this dividend is in line with Gujarat Toolroom’s strong order book, valued at ₹3000 crore, comprising contracts from domestic and international markets. With a diversified portfolio covering infrastructure, mining, gems and precious metals, the company is strategically positioned for continuous growth and maintaining market leadership.
Founded in 1983, Gujarat Toolroom Limited is a versatile business conglomerate involved in various sectors including Mining, Precious Gems & Metal Trading, Infrastructure Development, and Import-Export of Industrial supplies. After a period of inactivity, the company experienced a remarkable revival in 2022 under new management, propelling it into a phase of great expansion and prosperity. This transformative change heralds a new era of success for the company.
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Based in Gujarat, India, Gujarat Toolroom is a significant player in the import-export and infrastructure sectors. The company has recently secured large contracts to supply construction materials to leading companies such as Reliance Industries Limited, Adani Gas & Power, Gujarat Gas, Indian Oil, and more.
Gujarat Toolroom’s stock hit a high ₹62.97 per share and a minimum of ₹8.92 per share over the past 52 weeks. In the last month, they experienced a 26% decrease. However, over the past six months, the stock is up 80%. Remarkably, investors have seen an impressive return of 8690% over the last three years from Gujarat Toolroom shares.
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Published: 08 Apr 2024, 20:18 IST