This construction engineering firm declares 10% dividend per equity share

Dividend Stock: Salasar Techno Engineering, a steel structure manufacturer and EPC infrastructure company has declared a dividend on equity shares. According to an exchange filing by the company, the board at a meeting held on September 23 considered and approved the dividend on equity shares.

The board has declared a 10 per cent dividend per equity share having a nominal value of Re 1. This translates into an amount of Rs 0.10.

"Declaration of Dividend on Equity Shares at the rate of 10% i.e. Rs 0.10 per Equity Share of face value of Re 1 each for the Financial Year ended March 31, 2023," it said in a statement on BSE.

The record date for ascertaining the eligibility of shareholders for the payment of the dividend will be announced in the due course and will be informed to the shareholders through exchanges.

The company's board also approved the re-appointment of Tripti Gupta as a full-time director and Mukesh Kumar Garg as an independent director.

Earlier this week, the company bagged an electricity transmission order worth around Rs 75.23 crore in Africa. "The contract worth USD 9.40 million equivalent to Rs 752.38 million by Energy Development Corporation Ltd (EDCL) is for the Rwanda Transmission System Reinforcement and Last Mile Connectivity project," it said in a statement.

The engineering, procurement and construction (EPC) order is expected to be completed within 18 months.

New Delhi-based Salasar Techno Engineering is a steel structure manufacturer and EPC infrastructure company, providing services across telecom, energy and railways. It is a constituent of S&P BSE SmallCap index. It has a market capitalisation of Rs 1,620.52 crore.