2 Bonus Issues, 1:5 Split: Multibagger Telecom Stock Under Rs 100 Plans Dividend Announcement

Small cap company from the telecom sector Avantel Ltd informed on Monday about its meeting of Board of Directors scheduled to be held on April 25, 2024 to consider, approve financial results of the company and recommend a final dividend, if any. Current market price of Avantel share on BSE is Rs 104.80 per share with intraday fall of 3.33% at the time of writing the story. Avantel shares declined over 3% in last 6-months and gave return of 217% in last 1-year. The company already offered 2 bonus issues, carried out 1 stock split, and declared 20 dividends till now since 2001. More details below:

Avantel Ltd To Consider Final Dividend: As per the regulatory filing of the company dated April 15, 2024, "a meeting of the Board of Directors of the Company is scheduled on 25/04/2024 ,inter alia, to consider and approve i) Approve and take on record the Audited Standalone Financial Results of the Company under Indian Accounting Standards (Ind AS) for the Financial Year ended March 31, 2024; ii) Approve and take on record the Audited Consolidated Financial Results of the Company and its subsidiaries under Ind AS for the Financial Year ended March 31, 2024; iii) To recommend a final dividend, if any, on the equity shares of the Company for the financial year ended March 31, 2024, for the approval of the shareholders at the ensuing 34th Annual General Meeting; iv) To fix the record date for the payment of final dividend."

Avantel Bonus Share History: Avantel offered 2 bonus issues since June 17, 2022. The last Bonus that Avantel declared was in the ratio 2:1 with ex-bonus date fixed as November 24, 2023.

Avantel Stock Split History: Avantel split the face value of its shares once since August 14, 2023. Avantel last split the face value of its shares from Rs 10 to Rs 2 in 2023.The share traded ex-split from August 14, 2023.

Avantel Dividend History: Avantel announced 20 dividends since June 25, 2001. In last 12 months, Avantel Ltd announced an equity dividend amounting to Rs 1.00 per share. At the current share price of Rs 105.24, Avantel offers a dividend yield of 0.95%. Adjusting for Bonus/Splits the dividend yield is 0.06%.

Avantel Financials: Avantel for the quarter ended December 21, 2023 declared its consolidated total income at Rs 59.68 crore, up 9.05% from preceding quarter total income of Rs 54.73 crore. It announced its net profit after tax at Rs 16.32 crore in the latest quarter. The EPS of the telecom company came at Rs 0.67 for Q3 FY24, up by 143.94% YoY.

Avantel About: Avantel has been supporting the strategic sector since three decades and has rolled out many unique products / solutions to Indian Defence Services and allied establishments. The company in its initial years, has manufactured various building blocks of the Radios. From early 2000 onwards; the company has reoriented itself and started offering system based solutions to its customers in four main verticals i.e. Satellite Communications, HF Communications, Electronic Warfare and Radar systems respectively. Presently, the company is in the process of enhancing its portfolio and developing SCA compliant Software Defined Radios, High Power HF systems, Air Defence Radars and Small Satellites," as per its official website.

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