Shriram Finance Ltd. announced the stock split at the end of the board meeting on Friday, October 25th. The company will split each share with a face value of £10 into 5 shares with a face value of £2.
The record date for this split will be notified in the near future.
Shriram Finance said in a filing today that the corporate case is subject to approval by its members.
The face value of the company’s shares is currently ₹10. Since its listing, Shriram Finance has never conducted any stock split or issue of bonus shares.
Stock splits are typically considered by companies to increase the number of outstanding shares and improve trading liquidity by making shares more affordable to shareholders.
Shriram Finance has announced an interim dividend of Rs 22 per share of face value of Rs 10 for the financial year 2024-25. The record date for the interim dividend has been determined as November 7, 2024.
The interim dividend will be paid to eligible shareholders by November 24, 2024.
Additionally, non-banking financial companies (NBFCs) today announced their second quarter results.
Shriram Finance Ltd. share price fell 3.92% to settle at 3,118 ₹. The stock is up 52% so far in 2024 and more than 70% in the past year.
First Published: October 25, 2024 1:07 PM IST
