Comments
Shanthi Gears’ board of directors have declared a one-time special (interim) dividend of ₹5 a equity share of the face value of ₹1 each fully paid-up, for 2018-19.
The board of the subsidiary of Tube Investments of India also approved a proposal for buyback of equity shares of the company, not exceeding 50 lakh equity shares of ₹1 each fully paid-up, at a price of ₹140 a share, through the tender route on proportionate basis, from the shareholders, subject to necessary approvals. Shares of Shanthi Gears closed at ₹131.25, down 1.91 per cent, on the BSE.
The company said the dividend and the buyback have been announced after taking into consideration the fund requirements for its growth plans in the coming years, according to a statement.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.