THIS MINIRATNA PSU MAY ANNOUNCE A BUYBACK, DIVIDEND, BONUS SHARES AND STOCK SPLIT IN ONE DAY

Diversified PSU Balmer Lawrie and Company Ltd.'s board is scheduled to meet on Friday, May 28, 2024, to consider the recommendation of a dividend on equity shares of the company for the financial year 2024, along with its March quarter results.

Besides, the company is also expected to consider a share buyback, approve a bonus issue of shares as well as a split of its equity shares.

If approved, this will mark the first instance of a stock split by the company.

Previously, Balmer Lawrie and Company had approved a bonus issue in the ratio of 3:4 in 2013, 3:1 in 2016, and 1:2 in 2019.

The company, under the ownership of Ministry of Petroleum and Natural Gas, had also approved a dividend of ₹7.5 per share last year, and ₹6.5 per share in 2022.

At 1:30 pm, the Miniratna PSU stock was trading at ₹280.20, up 3.51% on the National Stock Exchange. The stock has also been a multibagger, delivering over 125% returns in the past year.

2024-05-07T08:30:55Z dg43tfdfdgfd