Dividend + Bonus: SME company Nirman Agri Genetics is likely to announce a twin treat of dividend and bonus shares for eligible shareholders next week. The company's board is set to meet on September 13 to consider and approve both the corporate actions.
On Friday, September 6, Nirman Agri Genetics' shares closed at Rs 414.95 apiece on the NSE, down 3.06 per cent against its previous close.
Nirman Agri Genetics, incorporated in 2020, is engaged in the business of production, processing, and marketing of high-quality hybrid seeds, pesticides, and bio-organics, which are used for different crops like corn, sunflower, cotton, paddy, grain sorghum, among others.
"The Board will consider the declaration of a dividend of up to 50%, demonstrating our commitment to rewarding our shareholders in line with our sustained growth and strong financial performance," said the company. "This dividend reflects the company’s robust profit growth," it added.
"The Board will deliberate on the proposal for issuing bonus shares to existing shareholders. This move is intended to enhance the liquidity of our stock, improve market participation, and further strengthen shareholder confidence in the company’s future growth prospects," the company said.
"Expansion into automations in Agri industry - Launch of IOT devices which actively monitor all parameters of farm such as soil parameters, Growth stage, water irrigation level, fertilization of farm etc.," it said.
Since then, the stock has more than quadrupled, rising 319 per cent.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
2024-09-07T09:31:43Z dg43tfdfdgfd