PDS Limiteds Board Approved 5:1 stock split
The aim is to improve the liquidity of the equity shares in the stock market, encourage wider investor participation and make share price more affordable for small retail investors.
PDS Limited is a design-led sourcing, manufacturing & supply chain platform catering to leading brands and retailers globally with a presence in over 22 countries.
The Board of Directors of the company today has approved the subdivision of the company’s equity shares in the ratio of 5 (five) shares for every 1 (one) equity share, subject to the approval of the shareholders. The company currently has 26,096,724 equity shares with a face value of Rs 10 per equity share, translating into a paid-up capital of Rs 260,967,240. After the split, the company will have 130,483,620 equity shares with a face value of Rs 2 per equity share.
The stock split is subject to the approval of the shareholders in the ensuing Annual General Meeting, which is scheduled on July 29, 2022. The record date for the said stock split will be announced at a later date.
Post the subdivision of equity shares the existing shareholders will be issued 5 (five) new shares for every 1 (one) equity share. The aim is to improve the liquidity of the equity shares in the stock market, encourage wider investor participation and make share prices more affordable for small retail investors.
In FY 22, the company reported revenues of +US$1 billion. In line with the dividend distribution policy, the company declared a 238 per cent dividend of Rs 23.85 per share, translating into a 25 per cent EPS payout, subject to the approval of the shareholders.
On Thursday, the share of PDS multinational opened in green and was trading 0.68 per cent in the first half-hour of the trading session.