Investors toast Regnis share split, dividend

Investors yesterday toasted the planned two for one sub division of shares of Regnis (Lanka) Plc., as well as the final dividend of 6%.

The stock price of the company gained by Rs. 8.20 to close at Rs. 322.60 whilst it hit an intra-day high of Rs. 349.90 with 46,225 shares traded.

Last week it gained only by 50 cents whilst 52-week highest is Rs. 515. On Tuesday the share price dipped by Rs. 4.80.

On Tuesday Regnis announced that its Board has resolved to sub divide its ordinary shares in the proportion two for one subject to shareholder approval.

The number of ordinary shares would be increased from 4,829,084 to 9,658,168 while the stated capital would remain the same at Rs. 100,123,470.

The Company also announced a final dividend of Rs. 6 per share for 2011 financial year.  The share will go XD from 12 March and payment will be made on 20 March.

A similar dividend was paid for 2010 as well.