 "Sasken Communication gains after board declares special dividend")
Sasken Communication Technologies has moved higher by 4% to Rs 424, bouncing back nearly 10% from intra-day low on the BSE, after the company announced a special dividend of Rs 25 per share along with interim dividend of Rs 4 per share. The stock will turn ex-dividend on March 28, 2016.
The board of directors of the company at its meeting held on March 17, 2016, has declared payment of interim dividend of Rs 4 per equity share of Rs 10 each (40%); and special dividend of Rs 25 per equity share of Rs 10 each (250%), Sasken said in a statement.
The dividend will be disbursed on and from March 31, 2016, it added.
In past four trading sessions, the stock rallied 34% from Rs 316 on March 11, after Sasken on Monday said it has reached a settlement with China-based semiconductor vendor Spreadtrum wherein the latter will pay USD 45 million as damages to it for unauthorised use of its protocol stack IP.
At 12:12 PM, the stock was trading at Rs 418 after hitting a low of Rs 386 on the BSE in intra-day trade. The trading volumes on the counter more than doubled with a combined 1.7 million shares changed hands on the NSE and BSE so far.
The board of directors of the company at its meeting held on March 17, 2016, has declared payment of interim dividend of Rs 4 per equity share of Rs 10 each (40%); and special dividend of Rs 25 per equity share of Rs 10 each (250%), Sasken said in a statement.
The dividend will be disbursed on and from March 31, 2016, it added.
In past four trading sessions, the stock rallied 34% from Rs 316 on March 11, after Sasken on Monday said it has reached a settlement with China-based semiconductor vendor Spreadtrum wherein the latter will pay USD 45 million as damages to it for unauthorised use of its protocol stack IP.
At 12:12 PM, the stock was trading at Rs 418 after hitting a low of Rs 386 on the BSE in intra-day trade. The trading volumes on the counter more than doubled with a combined 1.7 million shares changed hands on the NSE and BSE so far.