Samvardhana Motherson Ltd.’s board approved a bonus issue of equity shares in a 1:2 ratio on Thursday. The issuance of bonus shares is subject to the approval of shareholders in the ensuing general meeting.
The board has also recently recommended a final dividend of Rs 0.35 per equity share with a face value of Re 1 each on the entire equity share capital consisting of 703.63 crore of equity shares for the financial year 2024-25, subject to approval of shareholders at the ensuing annual general meeting scheduled to be held on Aug. 28.
The final dividend, if declared by the shareholders at the forthcoming AGM, shall be paid within 30 days from the date of declaration, that is, on or before Sept. 26. The final dividend will be in addition to the interim dividend of Rs 0.50 paid for the financial year 2024-25.
The record date for the same is June 23. This comes as the company announced its fourth quarter results on Thursday.
