Stock dividend update: Gujarat Toolroom’s board of directors will consider and approve the dividend payout proposal from 100 percent to 165 percent. The SME company board will consider and approve the proposal in its board meeting scheduled on April 8, 2024. The SME company informed Indian stock market exchanges about the dividend proposal in an exchange filing. The company said that a dividend proposal was received following the company’s robust financial results.
Gujarat Toolroom dividend 2024
The SME company informed about the dividend payment proposal saying, “We are pleased to inform you that a meeting of the Board of Directors of Gujarat Toolroom Limited is scheduled to be convened on 8 April 2024 to consider various matters, including the statement of dividend. for the current financial year. Considering the company’s strong financial performance and prudent financial management, we are pleased to propose a dividend payment to our valued shareholders. The proposed dividend is expected to be in the range of 100% to 165%.”
In a written press statement shared with LiveMint, the SME company said, “With a focus on maximizing shareholder value, the company’s management has strategically chosen to share its success by distributing a significant portion of its profits to its valued shareholders. This move not only demonstrates the financial stability of Gujarat Toolroom but also serves as a testament to its dedication to fostering strong investor relations,” adding, “By offering attractive dividend payouts, the company aims to enhance shareholder wealth and encourage further investment in its growth prospects. This proactive approach to shareholder value creation aligns with Gujarat Toolroom’s overall mission is to deliver sustainable growth and maximize shareholder returns over the long term.”
The share price of Gujarat Toolroom today is around ₹42, which means that eligible shareholders of the SME company can expect at least a ₹42 per share dividend.
Recently, Gujarat Toolrroom hit the headlines when the SME company declared an alliance with the BSE heavyweight Reliance Industries Limited (RIL).
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Published: 01 Apr 2024, 15:22 IST