DIVIDEND + BONUS: TWIN TREAT FOR SHAREHOLDERS! ANNOUNCEMENT ON SEPTEMBER 13

Dividend + Bonus: SME company Nirman Agri Genetics is likely to announce a twin treat of dividend and bonus shares for eligible shareholders next week. The company's board is set to meet on September 13 to consider and approve both the corporate actions.

On Friday, September 6, Nirman Agri Genetics' shares closed at Rs 414.95 apiece on the NSE, down 3.06 per cent against its previous close.

Nirman Agri Genetics, incorporated in 2020, is engaged in the business of production, processing, and marketing of high-quality hybrid seeds, pesticides, and bio-organics, which are used for different crops like corn, sunflower, cotton, paddy, grain sorghum, among others.

Nirman Agri Genetics Dividend

Nirman Agri Genetics' board at its September 13 meeting is set to recommend a dividend of up to 50 per cent. The company's stock has a face value of Rs 10. Since, dividend is always calculated on the face value of a share, therefore, the dividend amount would come out to be Rs 5 per equity share.

"The Board will consider the declaration of a dividend of up to 50%, demonstrating our commitment to rewarding our shareholders in line with our sustained growth and strong financial performance," said the company. "This dividend reflects the company’s robust profit growth," it added.

Nirman Agri Genetics Bonus Share

In its meeting, the board is also expected to recommend a proposal to issue bonus shares to existing shareholders.

"The Board will deliberate on the proposal for issuing bonus shares to existing shareholders. This move is intended to enhance the liquidity of our stock, improve market participation, and further strengthen shareholder confidence in the company’s future growth prospects," the company said.

Nirman Agri Genetics Expansion Plan

The board will also discuss expansion plans at their meeting.

"Expansion into automations in Agri industry - Launch of IOT devices which actively monitor all parameters of farm such as soil parameters, Growth stage, water irrigation level, fertilization of farm etc.," it said.

Nirman Agri Genetics Share Price History

Nirman Agri Genetics made its debut on the D-Street on March 28, 2023, listing at Rs 102 per share. The company raised Rs 20.30 crore via its initial public offering (IPO), which were offered at a fixed price of Rs 99 per share.

Since then, the stock has more than quadrupled, rising 319 per cent.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

2024-09-07T09:31:43Z dg43tfdfdgfd