Andhra Paper 1:5 stock split record date tomorrow; last day to buy for eligibility
Andhra Papers announced September 11 as the record date for its 1:5 stock split, which means that the stock will trade on an ex-split basis from tomorrow.
Shareholders whose names appear in the company's database on the record date are eligible for the said stock split.
“The Company has fixed Wednesday, 11 September, 2024 as ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division of every one fully paid-up equity share having face value of Rs. 10/- each in the share capital of the Company into five fully paidup equity shares having face value of Rs. 2/- each,” said the company in a filing to the exchanges.
Shareholders who buy the stock at least one day before the ex-date are eligible for dividends as settlement happens the next day. Those buying the stock on the ex-date are not eligible for dividends.
A 1:5 stock split means that one company stock with a face value of Rs 10 per equity share will now be subdivided into five equal shares having a face value of Rs 2 per share.
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