Gujarat Toolroom’s board of directors is set to convene on April 8, 2024, to discuss and potentially approve an increase in dividend payouts from 100% to 165%. The company, listed on SME exchanges, revealed its intention to enhance shareholder value through a substantial dividend proposal following its robust financial performance.
In a statement to the Indian stock market exchanges, the company expressed its pleasure in proposing a dividend payout to shareholders, citing the company’s strong financial results and prudent financial management. The proposed dividend is expected to range between 100% to 165%.
Emphasizing its commitment to shareholder value, Gujarat Toolroom stated, “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.”
In a press statement shared, the company reiterated its focus on maximizing shareholder value and fostering strong investor relations. By distributing a significant portion of its profits as dividends, Gujarat Toolroom aims to enhance shareholder wealth and encourage further investment in its growth prospects.
With the company’s share price hovering around ₹42, eligible shareholders can anticipate a dividend of at least ₹42 per share. The proposed dividend increase comes after Gujarat Toolroom made headlines for its collaboration with heavyweight Reliance Industries Limited (RIL).
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