Redington (India) gains after board OKs 1:1 bonus issue

Redington (India) gained 3.35% to Rs 316.30 after the company's board approved issuing one bonus share for each equity share held as on the record date.

The record date for reckoning the eligible shareholders entitled to be allotted bonus shares has been fixed as 20 August 2021.

On account of the above bonus issue and in order to comply with the regulations, the record date of final dividend (including one-time special dividend) of FY 2020-21 fixed as 4 August 2021 is now advanced to 19 July 2021 by the board.

While approving the financial results for fourth quarter on 27 May 2021, the company's board had recommended a final dividend of Rs 11.60 per share (including one-time special dividend of Rs 4 per equity share) for the financial year ended 31 March 2021.

Redington (India) is engaged in the business of distribution of information technology, mobility and other technology products besides supply chain solutions.

The company's consolidated net profit increased by 153.78% to Rs 302.51 crore on a 22.40% rise in net sales to Rs 15,503.94 crore in Q4 FY21 over Q4 FY20.

Powered by Capital Market - Live News