Synergy Power Development (SPDL) Proposes 10.5263% Dividend and 2: 1 Rights Offering

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Synergy Power Development Limited (SPDL) has proposed a 10.5263% dividend for the fiscal year 2077/78.

The meeting of the board of directors held on Shrawan 24 has decided to distribute 10% bonus shares worth over Rs. 7.33 crores and 0.5263% cash dividend worth over Rs. 38.59 lakhs.

The board has also decided to issue a 2: 1 right offering on the paid-up capital after bonus shares adjustment. Both the decisions are subject to endorsement by the company’s upcoming AGM.

As of writing, SPDL has an LTP of Rs. 749. In the fiscal year 2076/77, the company has distributed 4.75% bonus shares and 0.25% cash dividend. The current paid up capital of SPDBL is Rs 73.32 crore, which upon adjustment of proposed bonus and right share would be Rs. 120.98 crore.