Rajapalayam Mills (Public, BOM:532503) has announced that it plans to process a 100% bonus issue (1 new share for every share held) to increase liquidity of its stock.
The bonus issue will be voted on at the next annual general meeting.
They have also announced that the dividend payment for this year will be Rs.15 per share, of which half will be a standard dividend and half a special dividend.
Over the last year Rajapalayam Mills has seen an increase in turnover from Rs.238 crore to Rs.305 crore and net profits increased by over 100%.
About Rajapalayam Mills
Rajapalayam Mills produces textiles, tissue culture and also generates electrical power from wind turbines. Rajapalayam Mills exports cotton to Japan, Korea, Thailand, Hong Kong, China, Egypt, Turkey, Italy, Mauritius, Sri Lanka, Bangladesh, Greece and Switzerland.