Vallibel One PLC has announced its first interim dividend of Rs. 2.50 per share inclusive of cash and scrip for the financial year ending 31 March.
Cash dividend is 50 cents per share with payment date being 22 March and 4 March as XD date. The balance Rs. 2 per dividend will be in the form of scrip in the proportion of 1 for every 20.75 shares held. The consideration for which shares are to be issued is Rs. 41.50 per share representing the weighted average market price of the share for the six months ended on 31 January.
The scrip issue will see release of 52.36 million shares. Amount to be capitalised for the issuance of new shares is Rs. 2.17 billion.
The current stated capital of the company is Rs. 27.1 billion.
In the first nine months of FY21, Vallibel One posted a turnover of Rs. 56.6 billion up by 8% from a year earlier whilst its profit from operation amounted to Rs. 13.5 billion up 11%. Pre-tax profit was Rs. 12 billion up 21% and after tax was Rs. 7.9 billion, an increase of 66% from the first nine months of FY20.