Swelect Energy Systems (formerly Numeric Power Systems) has tanked 49%, or Rs 137, to Rs 145 after the stock turned ex-dividend today.
The company has recommended a total dividend of Rs 123 per share, including an interim dividend of Rs 120 per share from the retained earnings, free of tax in the hands of the shareholders, for the financial year 2012-2013. The board has recommended an equity dividend of Rs 3 per share (30%) for the year ended March 31, 2012.
“The register of members & share transfer books of the company will remain closed from July 19, 2012 to July 21, 2012 (both days inclusive) for the purpose of payment of dividend for the fiscal 2011-12 & interim dividend declared on July 09, for the financial year 2012-13,” Swelect Energy Systems said in a filing.
The company had announced sale of its UPS business for Rs 837 crore to Novateur Digital and Electrical Systems on February 9. The formalities of the sale were completed on May 29.
The stock opened at Rs 155 and hit a three-year low of Rs 145 on the National Stock Exchange. A combined 100,885 shares have changed hands on the counter so far on both the exchanges.
