Voltamp Transformers rallies on dividend bounty
The board has recommended a total dividend of Rs 15 per share including special dividend of Rs 5 per share.
Voltamp Transformers has rallied 10% to Rs 458 after announcing a total dividend of 150% or Rs 15 per share which includes a special dividend.
The stock opened at Rs 430 and hit a high of Rs 473 on NSE. A combined 18,122 shares changed hands on the counter so far on NSE and BSE.
“The board of directors of the company has recommended dividend of 100% or Rs 10 per share and onetime special dividend of 50% or Rs 5 per shares to commemorate successful completion of 50 years in the transformer business for the financial year ended March 31, 2013,” Voltamp Transformers said in a statement.
Meanwhile, the company has reported 35% year-on-year jump in net profit at Rs 14.93 crore for the quarter ended March 31, 2013 (Q4) on back of higher other income.
Net sales however, declined 10% to Rs 175 crore on yoy basis. Income from other sources surged over two-fold to Rs 6.53 crore from Rs 2.95 crore during the recently concluded quarter.
The stock opened at Rs 430 and hit a high of Rs 473 on NSE. A combined 18,122 shares changed hands on the counter so far on NSE and BSE.
“The board of directors of the company has recommended dividend of 100% or Rs 10 per share and onetime special dividend of 50% or Rs 5 per shares to commemorate successful completion of 50 years in the transformer business for the financial year ended March 31, 2013,” Voltamp Transformers said in a statement.
Meanwhile, the company has reported 35% year-on-year jump in net profit at Rs 14.93 crore for the quarter ended March 31, 2013 (Q4) on back of higher other income.
Net sales however, declined 10% to Rs 175 crore on yoy basis. Income from other sources surged over two-fold to Rs 6.53 crore from Rs 2.95 crore during the recently concluded quarter.