Stock Split, Special Dividend On Aug 7: Metals Stock Sets Aug 17 As Record Date For Rs 5 Dividend

Board of Directors of mid cap company operating in metals & ferrous sector Godawari Power & Ispat Ltd will hold meeting on August 7, 2024 to consider the proposal of special dividend and stock split. Meanwhile, Godawari Power declared August 17, 2024 as the record date for Rs 5/- per share final dividend tha tit recommended on May 24, 2024. Godawari Power shares offered eye-catching returns of 288% in last 2-years and 93% in last 1-year. Given below are details about the upcoming corporate actions:

Godawari Power To Consider Special Dividend On August 7: As per the exchange filing of the metals stock dated July 29, "the Board of Directors in its Board meeting scheduled to be held on 7th August, 2024 will be considering the proposal of payment of special dividend on the occasion of 25th Anniversary of the company." If the special dividend to be paid has been decided by the Board in its meeting scheduled to be held on 7th August, 2024, the payment of such special dividend subject to deduction of tax at source, will be made within 30 days from its declaration i.e. on or before 5th September, 2024.

Godawari Power Sets Record Date For Final Dividend: The BSE filing of the company issued as on July 29 stated, "The Board of Directors has recommended the payment of Final dividend of Rs. 5/- per share (i.e. 100%) on equity share of Rs. 5/-each for the FY 2023-24. The Dividend recommended by the Board of Directors of the Company in its meeting held on 24th May, 2024 is subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company."

The Company has fixed Saturday 1 7th August, 2024 as Record date for the purpose of ascertaining the entitlement of members for the final dividend for the financial year 2023-24. If the final dividend, as recommended by the Board of Directors, is approved in the ensuing AGM, the payment of such dividend, subject to deduction of tax at source, will be made within 30 days from its declaration in the AGM.

Godawari Power & Ispat Ltd To Consider Stock Split: The BSE filing added, "to consider the proposal for sub-division/Split of equity share of face value of Rs. 5 each of the Company in such manner as may be determined by the Board of Directors."

Godawari Power To Consider Financial Results on August 7: The exchange filing said, "to consider and approve the Un-Audited Standalone and Consolidated Financial Results of the Company for the quarter ended on 30th June 2024."

Godawari Power & Ispat Share Performance: The company has a market capitalisation of Rs 14,950.25 crore. The 52-week high price of Godawari Power & Ispat share on BSE is Rs 1222.95 per share (as on 16/07/2024) and 52-week low price is Rs 533.05 per share (as on 28/07/2023), respectively. Godawari Power & Ispat shares gained 23% in last 3-months, soared 49% in last 6-months, jumped 170% in last 3-years, and gained 2465% in last 5-years.

About: Godawari Power & Ispat Ltd. (GPIL) a public Ltd. Co., formally Ispat Godawari Ltd (IGL), was incorporated in 1999 to set up an integrated steel plant with captive power generation, which is an integrated steel manufacturer and is having dominant presence in the long product segment of the Steel industry, mainly into mild steel wire. Today, GPIL is an end-to-end manufacturer of mild steel wires. In the process, the company manufactures sponge iron, billets, Ferro alloys, captive power, wires rods (through subsidiary company), steel wires, Oxygen gas, fly ash brick and last but not the least pallets, according to its official website.

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