Multibagger stock that has jumped 200% in 6 months announces stock split, dividend - check record date

The Delhi-based company has fixed the record date. The record date is February 3. It means that the company will pay dividend to shareholders having the shares of the company in their Demat account on the record date.

The dividend amount will be deposited directly in the bank account of the shareholders linked to the Demat account. Pic: Pixabay

Servotech Power Systems, a leading player in the solar, EV charging and green power solutions space, has declared an interim dividend for the financial year 2022-23. The small-cap company in an exchange filing said that the board at a meeting considered and approved the payment of interim dividend to the shareholders. Besides, the company has also fixed the record date for the sub-division or split of the shares. The face value of each share of the company is Rs 10.

The filing said that Servotech Power Systems' board has announced to pay an interim dividend of Rs 0.20 per equity share. The Delhi-based company has fixed the record date. The record date is February 3. It means that the company will pay dividend to shareholders having the shares of the company in their Demat account on the record date.

A record date is nothing but a date that allows a company to determine the eligibility of shareholders for receiving the benefits of corporate actions like dividend, bonus, split and more.

Also Read: Textile entrepreneurs hope for better stability with reduction in freight charges, cotton prices

The dividend amount will be deposited directly in the bank account of the shareholders linked to the Demat account.

Servotech Power Systems has also fixed February 3 as the record date for the split. The stock will split in the ratio of 5:1. It means that one share will be subdivided into 5 and the face value will reduce to Rs 2. Also, the price of the share will be adjusted in the split ratio.

"The board has approved and taken on record the sub-division (split) of Equity Share of the Company having a face value of Rs 10 each into one Equity Share of the face value of Rs 2 each," the company had informed exchange in a filing last month.

Servotech Power Systems shares have delivered a massive return of nearly 200 per cent to its shareholders in the past 6 months. The stock on Friday quoted Rs 181.95 apiece on NSE at close.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.