Systematic Corporate Treasuries 1:10 Stock Split & Rs 1 Dividend Approved
Systematix Corporate Services, a small-cap company in the financial services sector, offers a diverse range of financial products including debt products (primary markets), IPOs, mutual funds, commodities, currency derivatives, and derivatives. The company caters to a wide array of clients such as retail investors, Ultra HNIs, HNIs, insurance companies, bank treasuries, corporates, corporate treasuries, promoters, and foreign institutional investors. On Friday, Systematix Corporate Services’ shares hit the 5% upper circuit limit on the BSE, closing at ₹1,188.45 per share with a market cap of ₹1,542.64 crore. This surge followed the company’s announcement of a ₹1 dividend and a 1:10 stock split.
Systematix Corporate Services Dividend Announcement
In a recent stock exchange filing, Systematix Corporate Services announced that its Board of Directors has recommended a final dividend of ₹1 per equity share with a face value of ₹10 each (10%) for the financial year ending March 31, 2024. This proposal is subject to the approval of shareholders at the upcoming Annual General Meeting (AGM).
The company also noted that the Register of Members will be closed from Friday, September 20, 2024, to Thursday, September 26, 2024 (both days inclusive), in preparation for the AGM and dividend distribution.
Systematix Corporate Services Stock Split
Additionally, the Board of Directors approved a stock split, where each equity share of the company with a face value of ₹10 will be subdivided into 10 equity shares with a face value of ₹1 each. This stock split is also subject to shareholder approval at the forthcoming AGM, as stated in the company’s regulatory filing.
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