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Ujjivan Financial Services’ board recommends 8% dividend

on Friday, announced that the company’s board of directors in their meeting held on April 27, 2017, have recommended a dividend at the rate of 8% or Rs 0.80 per equity share, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM).
The company also said that the dividend, if approved by the shareholders will be paid after the AGM date.
The stocks on the NSE at 09:40 hours is trading at Rs 391 per share, lower by Rs 11.65 per share or 2.8%. The stocks has hit its 52-week high of Rs 547.50 on July 28, 2016; and its 52-week low of Rs 216.55 on May 10, 2016.
Ujjivan Financial Services Limited, formerly Ujjivan Financial Services Private Limited, is a non-banking finance company, engaged in the micro finance lending business.
The company’s products and services include microfinance, micro and small enterprise business (MSE) finance, agriculture and animal husbandry finance and housing finance
Stock view:
Ujjivan Financial Services Ltd is currently trading at Rs 393, down by Rs 10.3 or 2.55% from its previous closing of Rs 403.3 on the BSE.
The scrip opened at Rs 383.7 and has touched a high and low of Rs 397.6 and Rs 379 respectively. So far 1977422(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4820.14 crore.
The BSE group ‘B’ stock of face value Rs 10 has touched a 52 week high of Rs 547 on 28-Jul-2016 and a 52 week low of Rs 217.05 on 10-May-2016. Last one week high and low of the scrip stood at Rs 408 and Rs 386 respectively.
The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 59.81 % and 40.19 % respectively.