Shakti Pumps, a company that manufactures pumps and motors, has announced the issuance of bonus shares.
The announcement was made on Monday, stating that eligible investors will receive 5 free shares for every 1 share they own.
Over the past year, shareholders of Shakti Pumps have had a remarkable experience, as the company’s share prices have increased by more than 300%.
First Bonus Shares in 13 Years
On Monday, Shakti Pumps informed the stock markets that it will issue 5 new shares as a bonus for each share with a face value of Rs 10.
However, the company has not yet announced the record date for this bonus issue.
The last time Shakti Pumps offered bonus shares was in 2011, when investors received 1 bonus share for each share they owned.
Despite recent fluctuations, where the company’s shares hit a lower circuit for two consecutive trading sessions, long-term investors have seen significant gains.
On Monday, Shakti Pumps shares dropped by 5% to Rs 4,304.90. However, those who have held the shares for a year have gained 377%,
and investors with a 6-month holding period have gained 197% so far.
Shakti Pumps has a 52-week high of Rs 5,089.30 and a low of Rs 881.05. The company’s market capitalization stands at Rs 8,633.93 crore.
Continuous Dividends Paid
Shakti Pumps has consistently paid dividends since 2021. On September 23 of this year, the company declared a dividend of Rs 4 per share. Earlier in 2023, the dividend was Rs 3 per share.
