By Malvika Gurung
Investing.com -- The Non-Banking Financial Company (NBFC) Pilani Investment And Industries Corporation (NS:PILN) will remain under focus this week as its shares are set to turn ex-dividend for a dividend of 150% for the financial year ended March 31, 2023.
According to Investing.com's ‘Dividend Calendar’, the investment stock will begin trading ex-dividend on Tuesday, August 29, 2023.
The Board of Directors of Pilani Investment Industries Corporation recommended a dividend of Rs 15 per equity share of face value of Rs 10 each, equivalent to 150% of the paid-up equity share capital of the company for the financial year 2022-23, aggregating to Rs 1,660.84 lakhs.
The corporate reward is subject to the approval of the NBFC’s shareholders at its 76th Annual General Meeting (AGM) scheduled to be held on Tuesday, September 5, 2023, through video conferencing.
The aforementioned dividend of 150% in FY23 is the same as the dividend announced by Pilani Investment of Rs 15/share of Rs 10 each in the previous. The total outgo towards dividend on equity shares amounts to Rs 395 lakh, the company stated.
The Register of Members and the Share Transfer Books of the NBFC will be closed from Wednesday, August 30, 2023, to Tuesday, September 5, 2023, both days included, for the purpose of Pilani Investment’s 76th AGM and also for the purpose of the Dividend payment, if approved at the AGM.