PepsiCo bottler announces stock split for second consecutive year: Check details
PepsiCo bottler announces stock split for the second consecutive year. Last year, the company had announced 1:2 stock split.
Varun Beverages in its board meeting on Tuesday has announced a 2:5 stock split in its board meeting today. "Sub-division/ split of the existing Equity Shares of the Company, such that each Equity Share having face value of Rs. 5/- (Rupees Five only) each fully paid-up, be sub-divided/split into such number of Equity Shares having face value of Rs. 2/- (Rupees Two only) each fully paid-up, subject to the approval of Equity Shareholders of the Company through Postal Ballot, said the company's filing.
The Record Date for sub-division/split of existing Equity Shares shall be decided after taking aforesaid approval of the Equity Shareholders of the Company, it added.
Last, the company announced stock split last year, where the stock's FV was reduced from Rs 10 to Rs 2.
In line with our dividend policy, the Board of Directors has approved an interim dividend of 25% of the face value, i.e., Rs. 1.25 per share, added the company's filing.
After the company's results and other announcement, the stock slumped up to 6 per cent to day's low price of Rs 1,581 per share on the BSE.
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