Andhra Paper announces record date for 1:5 stock split. Check record date
record date for the purpose of its 1:5 stock split, following which the stock closed 4.6% higher on BSE at Rs 555.
“The Company has fixed Wednesday, 11th 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/- (Rupees Ten only) each in the share capital of the Company into five (5) fully paid up equity shares having face value of Rs. 2/- (Rupees Two only) each,” said the company in a filing to the exchanges.
This means that the shareholders whose names appear in the company's database on the record date are eligible for the said stock split. 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.
Prior to this, the company had split its shares in the year 2001 from a face value of Rs 100 per share to Rs 10 per share, according to the Trendlyne data.
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Andhra Paper is one of the largest integrated paper and pulp manufacturers in India. Established in 1964, the company produces writing, printing and copier papers for foreign and domestic markets.
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