Rs 3/Share Dividend, 2:1 Bonus Share: NBFC Stock Hits 52-Week High, Soars 7.15% Intraday

Mid cap company operating in the NBFC industry, MAS Financial Services Ltd shares witnessed a surge of 7.15% intraday and hit fresh 52-week high. MAS Financial Services Ltd shares surged 20.15% in a span of just one-week and rose 36% in last 6-months. MAS Financial Services Ltd has a market capitalisation of Rs 5,736.23 crore. The NBFC company on January 17, 2024 recommended bonus shares in the proportion of 2:1. It implies shareholders will be entitled to receive 2 bonus shares for every 1 share held as on the record date. MAS Financial Services has yet to fix record date for bonus share. It has also recommended Rs 3 per share interim dividend on January 10, 2024. Check details below:

MAS Financial Recommends 2:1 Bonus Share: As per the BSE filing of the company dated January 17, 2024, "The Company crossed an important milestone of Rs. 10,000 Crore Assets Under Management {AUM)* on a consolidated basis and in order to reward the shareholders for their loyalty and investment in the Company, the Board of Directors have recommended the issue of Bonus Shares in the proportion of 2:1 i.e. 2 (Two) new fully paid-up bonus equity share of Rs. 10/- (Rupees Ten only) each for every 1 (One) existing fully paid-up equity share of Rs. 10/- (Rupees Ten only) each held by the Members of the Company as on the Record Date, subject to approval of the Members of the Company."

MAS Financial Services Declares Interim Dividend: As per the BSE filing of the company dated January 10, 2024, "We wish to provide the following information on a consolidated basis for the quarter ended December 31, 2023:

1. The consolidated AUM of the Company crossed the milestone of Rs 10,000 Crore during the quarter and stood at approximately Rs 10,225 Crore as on December 31, 2023, registering a strong growth of 27% YoY.

2. The Company continues to have adequate liquidity of approximately Rs 800 Crore as on December 31, 2023.

3. In consonance with our policy of rewarding the shareholders the board has declared an Interim Dividend of 30.00 % @ 3.00 per share."

Kamlesh Gandhi - Founder, Chairman & Managing Director, MAS Financial said, "This milestone achieved reflects upon the consistent growth of the Company across cycles. We take this opportunity to take fresh guard for our next phase of growth. We trust that the next phase of growth will not only be exciting and successful but also create value for all its stakeholders on a very large scale."

MAS Financial Services Stock Performance & Return: Last trading price of MAS Financial Services Ltd shares on BSE is Rs 1049.25 apiece. The 52-week high price of MAS Financial Services shares on BSE is Rs 1066.00 per share and 52-week low price is Rs 680.00 per share, respectively. MAS Financial Services shares gained 27% in last 1-year, soared 80% in last 2-years, and surged 18% in last 3-years. The scrip rallied 91% in last 5-years.

MAS Financial Services About: With a plethora of retail finance options in its arsenal, MAS is focused on fulfilling the requirements of lower income and middle-income groups of the society. It offers financial services for micro enterprises loans, SME loans, home loans, two wheeler loans, used car loans, and commercial vehicle loans to satisfy their varied needs. The focus remains on the vast lower income and middle-income groups of the society, spread across urban, semi urban and rural areas, and including formal and informal sector, according to its official website.

Disclaimer:

The stock highlights the bonus share, dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.