Good news for investors! Garware Technical Fibres Ltd has decided to offer bonus shares to its shareholders.
The company announced on Thursday that it will give 4 bonus shares for every 1 share you own. This is the company’s first-ever bonus share issue.
Details of the Bonus Share Offer
For every share you currently own, you will receive 4 additional shares for free. Each share has a face value of Rs 10.
However, the company has not yet announced the record date for this offer. The record date is when shareholders must hold the stock to be eligible for the bonus shares.
Company’s Stock Performance
Garware Technical Fibres’ stock has been performing well. On Thursday, its share price closed at Rs 3951.60, showing a gain of 3.47% on the Bombay Stock Exchange (BSE).
Over the past 6 months, the stock price has increased by 22.69%. Investors who have held the stock for a year have seen a 26% gain.
Long-term investors have also benefited. Over the last 5 years, the stock has gained 243%, and in the past 10 years, it has risen by an impressive 2100%.
The stock’s 52-week high is Rs 4475, and its 52-week low is Rs 3100. The company’s market capitalization stands at Rs 7845 crore.
Dividend History and Share Repurchase
Garware Technical Fibres Ltd has been rewarding its investors with dividends. In September, the company declared a dividend of Rs 3 per share.
Earlier in March, the company repurchased some of its shares. In 2023, Garware Technical Fibres paid a dividend of Rs 3.50 per share.
(Note: This is not investment advice. The stock market involves risks. Please consult an expert before investing.)
