On Wednesday, GMM Pfaudler’s board of directors recommended and approved the issue of bonus equity shares in the ratio of 1:2.

The bonus shares will be credited to shareholders to that holder of the company whose shares are record date, i.e. July 12, 2022. As the case may be, the company’s bonus equity shares will be issued to those who completed at least 60 days from the date of approval of BOD as of July 23, 2022.

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Also, board has recommended a final dividend of Rs 3/- per equity share for the financial year 2021-22, subject to approval of the shareholders at the ensuing Annual General Meeting (AGM). Total dividend for the financial year 2021-22 (including interim dividend) would be Rs 6 per equity share (pre-bonus) compared to Rs 5 (pre-bonus) paid in financial year 2020-21.

Shares of GMM Pfaudler plunged nearly 5 per cent to Rs 4,293 on the Bombay Stock Exchange (BSE) in today’s morning deal. The stock is down over 16 per cent in a year’s period, whereas, it has declined about 12 per cent in FY22. GMM Pfaudler is a global leader in corrosion-resistant technologies, systems, and services for the chemical, pharmaceutical, food and energy industry.