Tide Water Oil (India) Ltd board declares stock split, 1:1 bonus issue

The Board of Directors of Tide Water Oil (India) Ltd at its meeting held on June 10, 2021, has declared sub-division of 34,84,800 ordinary shares of the Company having face value of Rs.5/- each into 87,12,000 ordinary shares of face value of Rs.2/- each, subject to approval of the shareholders to be obtained by Postal Ballot/Remote E-Voting.

The board has declared issue of bonus shares post sub-division of shares to the shareholders in the ratio of 1:1, subject to approval of the shareholders to be obtained by Postal Ballot/Remote E-Voting.

The board also recommended final dividend of 4000% (Rs.200/- per share) on the ordinary shares of the Company of face value of Rs.5/- per share (i.e. before sub-division of shares and bonus issue) for the financial year 2020-21 subject to the approval of the shareholders in the ensuing 98th Annual General Meeting absorbing a sum of Rs.69.696 crores. The dividend recommended on per share and percentage thereof will be adjusted accordingly after sub-division of shares and bonus issue and the dividend will be distributed to the eligible shareholders within 30 days from the date of the 98th Annual General Meeting.

Shares of TIDE WATER OIL (INDIA) LTD. was last trading in BSE at Rs.10912.35 as compared to the previous close of Rs. 10948.6. The total number of shares traded during the day was 3432 in over 1460 trades.

The stock hit an intraday high of Rs. 11450 and intraday low of 10700. The net turnover during the day was Rs. 38341839.

Source : Equity Bulls

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