Supreme Petrochem revealed its decision to grant a 100% interim dividend and execute a 1:2 share split following the release of its second quarter results. The company has chosen to declare a dividend of Rs 4 per share, which corresponds to the nominal value of Rs 4, thus implying a 100% dividend for FY 2023. In its exchange statement, the company indicated that the declaration of the interim dividend worth Rs would result in an expenditure of 3,760.83 lakh.
Additionally, the company has set November 4th as the record date for these changes. Supreme Petrochem also announced its plans to split its Rs 4 shares into 2 fully paid shares, subject to shareholder approval. The registration date for the share split will be communicated shortly.
It is worth noting that, over a three-year period, the company’s shares returned an impressive 312%. However, the day before the changes were announced, the stock saw a decline of over 2% to close at Rs 712.05 on the NSE.
