Arihant Capital trades higher after company declares dividend

It has approved the interim dividend of, Rs 0.75 (15 per cent) per equity share of the face value of Rs 5 each to the shareholders of the company for the financial year 2021-22.

Arihant Capital Markets Ltd informed the exchanges and investors that the Board of Directors of the Company in their meeting held on March 3, 2022, that it has approved the interim dividend of, Rs 0.75 (15 per cent) per equity share of the face value of Rs 5 each to the shareholders of the company for the financial year 2021-22. 

The company has also proposed company's board split equity shares of the face value of Rs 5 each into equity shares of the face value of Re 1 each (5:1). This announced stock split is to encourage wider participation of retail investors by making the equity shares more affordable for them and enhancing the liquidity of equity shares of the company in stock markets. The company anticipates finishing the stock split process within two months from the date of notice of the extraordinary general meeting on May 3, 2022. 

Arihant Capital Markets is the leading stock broking service provider in India. The company's consolidated net profit rose 46.53 per cent to Rs 13.10 crore and a 68.17 per cent increase in net sales to Rs 48.23 crore in Q3 December 2021 over Q3 December 2020. 

The scrip rose by Rs 15, up by 5 per cent today and closed at Rs 379 on the BSE Sensex.