The board of directors, at its meeting on Ashoj 17, voted to disburse Rs. 9,20,50,000 as a dividend on the paid-up capital, which amounted to Rs. 9,20,50,000. It has been proposed to issue 32.3 percent bonus shares and pay a 1.7 percent cash dividend (for tax reasons). As a result, the bonus shares are worth slightly more than Rs. 2.97 crores, while the cash dividend is worth slightly more than Rs. 15.64 lakhs.
The dividend will be paid only if it has been approved by the central bank and approved by the company’s future annual general meeting. SMFBS currently has an LTP of Rs. 2,481.60 as of the time of writing.