- Shares of Standard Capital Markets Ltd and Franklin Industries Ltd are set to be in the spotlight as the stock market opens on May 13, following the announcement of a special dividend and a rights issue of equity shares by the companies’ Board of Directors.
- The record date for determining the eligibility of shareholders for these respective issues has been set for May 13.
- Standard Capital Markets has declared a special dividend of ₹0.01 per equity share, while Franklin Industries has declared a rights issue of equity shares.
Investors are turning their attention to Standard Capital Markets and Franklin Industries as they announce special dividends and rights issues, respectively. This article delves into the details of these announcements and what they mean for shareholders.
Standard Capital Markets’ Special Dividend
Standard Capital Markets has declared a special dividend of ₹0.01 per equity share. The company’s Board of Directors approved the declaration of this special dividend as an interim dividend of 1% or ₹.01 on the face value of ₹1/- each per equity share for the financial year 2023-24. The payment is expected to be made within 30 days from the date of declaration. As a result, shares of Standard Capital Markets will trade ex-dividend on Monday.
Franklin Industries’ Rights Issue
On the other hand, Franklin Industries has declared a rights issue of equity shares. The company’s Board of Directors approved the issue of fully paid-up equity shares of the company of face value of ₹1 each by way of a rights issue to the eligible shareholders for an amount not exceeding Rs.49,00,00,000/- (Rupees Forty Nine Crores Only). Franklin Industries, a trader of agricultural commodities and other agricultural products, will see its shares trade ex-rights on Monday.
Conclusion
These announcements by Standard Capital Markets and Franklin Industries are significant developments for their shareholders. It’s important for investors to keep an eye on these stocks as they trade ex-dividend and ex-rights, respectively, on Monday. As always, investors are advised to consult with certified experts before making any investment decisions.
