Investing.com — The technology services provider Saksoft Ltd (NS:SAKS) will remain under focus this week as its shares are set to turn ex-dividend for a dividend of 35% for the financial year ended March 31, 2023.
According to Investing.com’s ‘Dividend Calendar’, the banking stock will begin trading ex-dividend on Monday, August 7, 2023.
The Board of Directors of Saksoft recommended a final dividend of Rs 0.35 per equity share on Re 1 each, translating to 35% for the financial year 2022-23 while releasing its audited financial earnings for the March-ended quarter.
The corporate reward is subject to the approval of the private bank’s shareholders at its 24th Annual General Meeting (AGM) scheduled to be held on Monday, August 14, 2023, through video conferencing.
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The dividend will be paid to shareholders of Saksoft holding the company’s shares as on August 7, 2023. The outflow on account of the final dividend is expected to be Rs 36.99 million.
The Register of Members and the Share Transfer Books of the software company will be closed from Tuesday, August 8, 2023, to Monday, August 14, 2023, both days included, for the determination of the names of members eligible for the dividend on equity shares.
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Shares of the small-cap company have skyrocketed 196.6% over the past year, and are up 152% on a year-to-date (YTD) basis, making it a multibagger stock.
