Man Infraconstruction hits 52-week high after bonus share and dividend approval by board

The board recommends Issue of Bonus Equity Shares in the ratio of 1:2.

October 04, 2021 1:53 IST | India Infoline News Service
Man Infraconstruction Ltd hit 52-week high on Monday as it has informed that the Board of Directors has approved/recommended the proposals regarding business activities.

The board recommends Issue of Bonus Equity Shares in the ratio of 1 (One) new Equity Bonus Share of Rs. 2/- each for every 2 (Two) existing Equity Shares of Rs. 2/- each held by the shareholders of the Company as on the Record Date, subject to the approval of shareholders of the Company through Postal Ballot and other applicable statutory and regulatory approvals; as may be required.

The Company will inform the "Record Date" for determining the entitlements of the Shareholders to receive the Bonus shares in due course.

Further, Bonus Equity Shares will be issued out of Securities Premium Reserves of the Company available as at March 31, 2021. 

Declaration of Interim Dividend for FY 2021-22:
The Board approves declaration of Interim Dividend of Rs. 1.26 per equity share (i.e. 630/o) on 24,75,00,270 Equity Shares having Face Value of Rs. 2/- each, for the Financial Year 2021-22. The Record Date for the purpose of determining the entitlement of shareholders for the said Interim Dividend has been fixed as Thursday, 14th October, 2021 and the said dividend shall be paid/ dispatched on Friday, 29th October, 2021.

At around 1:52 PM, Man Infraconstruction was trading at Rs112.55 apiece up by Rs2.8 or 2.55%, after hitting 52-week high at Rs115.05 per piece on Sensex.

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