SME stock Gujarat Toolroom to declare up to 165% dividend soon. Details here
Dividend stock update: The board of directors of Gujarat Toolroom is going to consider and approve the proposal for dividend payment from 100 percent to 165 percent. The SME company board will consider and approve the proposal in its board meeting scheduled on 8th April 2024.
The SME company informed Indian stock market exchanges about the dividend proposal in an exchange filing. The company said that a dividend proposal has been received after the robust financial results of the company.
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 8th April 2024 to deliberate upon various matters, including the declaration of dividend for the current financial year. Given the company's robust financial performance and prudent financial management, we are delighted to propose a dividend payout to our esteemed 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 opted to share its success by distributing a significant portion of its profits to its esteemed shareholders. This move not only demonstrates Gujarat Toolroom's financial stability but also serves as a testament to its dedication to fostering strong investor relations," adding, “By providing attractive dividend payouts, the company aims to enhance shareholder wealth and incentivize further investment in its growth prospects.
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