Sasken Communication Technologies is down 4.3% on the Bombay Stock Exchange (BSE) currently trading at Rs 172. The stock plunged 14% yesterday after going ex-dividend yesterday.
"In celebration of its 25th year since incorporation, the board of directors on January 20 declared a special dividend of Rs 22.50 per share," the company said in its filing.
The stock is now factoring in the special dividend outflow. The R&D technology solutions provider had earlier declared a special dividend of Rs 2.50 in October, 2013 and an annual dividend of Rs 7-a-share.
The company today announced that it has partnered with Nevada-based Pinyon Technologies to deliver LTE mobile broadband product solutions for solution providers worldwide.
"We are pleased to be partnering with Sasken to offer a true mobile networking device for India, China, Bangladesh and other TD-LTE markets that will provide consumers with better connectivity and throughput,: said Debashis Bagchi, Pinyon Technologies CEO.
