Smallcap Stock Declares 1:1 Bonus Share & 500% Dividend, Payout Date Soon

Gloster Ltd. a top manufacturer of major jute products announced to pay 500% interim dividend and 1:1 bonus shares. It is a small cap stock with Rs. 921 crore market capitalization. Its share price surged by 3.30% intra day in trade today.

Gloster Ltd. informed the stock exchanges, "Issue of fully paid up Bonus equity shares of Rs. 10/- each in the ratio of 1:1 i.e 1 (One) Bonus Share for every 1 (One) Share held by the equity shareholders of the Company as on the Record Date to be fixed by the Board thereof for the purpose. The bonus issue of equity shares is subject to the approval of shareholders in an Extra Ordinary General Meeting of the Company."

Regarding dividend, the company added, "Payment of Interim Dividend @ 500% i.e., Rs. 50/- per share on 54,71,630 Nos. of Equity Shares of Rs. 10/- each for the financial year 2022-2023. The said Interim Dividend will be paid on or before 30'" November 2022. As informed on 31" October 2022, the Company has fixed Wednesday, 16'" November 2022, as the Record Date for the purpose of ascertaining the eligibility of the Shareholders for payment of Interim Dividend."

Stock performance

The share price of the company closed at Rs. 1,684.90 a piece on BSE. The stock has surged by 51.59% in the past 1 month, and surged by 56.56% in the last 6 months. Additionally, in 2022 the stock has given a 56.85% return to its shareholders. The 52-week high level of this stock is Rs. 1,744, and the 52-week low level of this stock is Rs. 905.80.

In 1879, Gloster Ltd. was appointed as the managing agent of Fort Gloster Jute Manufacturing Company Limited which became Fort Gloster Industries Limited subsequently. The Company is engaged in manufacturing and exporting of all types of Jute & Jute allied products, Woven & Non-Woven Jute Geotextiles, Treated Fabric-Rot Proof, Fire Retardant, jute products for Interior Decoration and Packaging of Industrial and Agricultural produce. Company's two manufacturing units are situated at Bauria, P.O. Fort Gloster, District Howrah in the State of West Bengal. The present management has experience of over 64 years in the Jute industry and running large Jute manufacturing units.

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