Smallcap multibagger's 1:5 stock split record date tomorrow; last day to buy today
economictimes.indiatimes.comSwastika Investmart had announced a 1:5 stock split earlier in July while announcing September 25 as the record date.
This means that today is the last day to buy the shares of the company before the ex-date, to be able to qualify for the stock split.
“We wish to inform you that SWASTIKA INVESTMART LIMITED has fixed “Wednesday 25th September, 2024” as the “record date” for the purpose of determining the entitlement of Equity Shareholders for Sub-division/split existing equity shares of the Company from 1 (one) equity share having face value of Rs.10/- (Rupees Ten only) each fully paid-up, into 5 (five) equity shares having face value of Rs. 2/- (Rupees Two only) each fully paid-up as approved by the Equity Shareholders,” the company had said in a previous 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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