Redtape Ltd. said on Friday that its board would hold a meeting on Dec. 26 to discuss various proposals like paying interim dividend and issuing bonus shares, according to an exchange filing.
The board of directors is scheduled to meet next Thursday to consider and approve the proposal of paying interim dividend to its equity and preference shareholders for the financial year 2024–25, it said.
In the same meeting, the board will also consider the option to increase the company's authorised share capital. This will be done, if the company issues bonus shares, so as to accommodate them. The board will also look at the proposal to issue bonus shares to the equity shareholders of the company.
The filing added that the record date "for the purpose of determining the members eligible to receive interim dividend, if declared, by the board of directors of the company, has been fixed as Friday, Jan. 3, 2025".
The footwear, garments and accessories company added that "to regulate, monitor and report trading by designated persons", it has closed the trading window for all such persons and their relatives, who deal in its securities from Dec. 20, 2024 (from 4 p.m.) till Dec. 28, 2024 (both days inclusive).
For the second quarter of the ongoing fiscal, Redtape had reported a 9.63% decrease in its consolidated net profit to Rs 25.1 crore against a profit of Rs 27.7 crore that it had posted in the year-ago period. This, despite the company's total income from operations for the quarter jumping 28% to Rs 419.2 crore against Rs 327.1 crore for last year's similar period.
Shares of Redtape Ltd. closed 1.05% lower at Rs 854.90 apiece on the BSE, compared to a 1.49% decline in the benchmark Sensex.
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