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Smallcap stock mulls up to 165% dividend payout to shareholders

In an announcement to the Bombay Stock Exchange (BSE), the company revealed plans for its maiden dividend payment. The board is scheduled to convene on April 8 to deliberate on the proposal, which could see dividends ranging from 100% to 165% distributed to shareholders.

Nitin Kumar Edited By: Nitin Kumar @Niitz1 New Delhi Updated on: April 02, 2024 7:10 IST
Stocks
Image Source : PIXABAY A computer screen shows a stock graph.

Smallcap stock from the industrial sector, Gujarat Toolroom, has informed BSE about the next dividend payment. According to an exchange filing, the board is slated to meet next week to consider and approve a proposal for up to 165 per cent dividend payment.

A dividend is a portion of profits that a listed company pays to its shareholders as per the regulations. Dividend payouts can be done monthly, quarterly or annually.

The smallcap stock which primarily deals in the general construction of residential buildings has informed BSE that the board will take up the proposal for dividend at its scheduled meeting on April 8. If announced, this would be the first-ever dividend by the stock.

The Board of Directors of Gujarat Toolroom Limited is scheduled to be convened on 8th April 2024 to deliberate upon various matters, including the declaration of dividend for the current financial year," it said in a stock exchange filing.

"Given the company's robust financial performance and prudent financial management, we are delighted to propose a dividend payout to our esteemed shareholders. The proposed dividend is expected to be in the range of 100 per cent to 165 per cent," it added.

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