Stock Split News:  Shriram Finance Limited made several big announcements at the end of its board meeting on Friday, October 25. The company has announced a stock split and dividend. The company has informed in the exchange filing that it will split a share worth Rs 10 into five shares, whose value per share will be Rs 2. The company said that the record date for the split has not been decided yet, information about it will be given in due time.

Shriram Finance further said in the filing that this decision corporate action will be subject to the approval of the members of the company. The company's shares currently have a face value of Rs 10. Shriram Finance has never done a stock split or issued bonus shares since its listing. Why is the split done? The company usually does a stock split to increase its outstanding shares and make the stock more affordable for its shareholders. Its purpose is to improve trading liquidity. Announcement of dividend Shriram Finance has announced a dividend of Rs 22 per share of face value of Rs 10 for the financial year 2024-25. The company has fixed the record date for the dividend as November 7, 2024. According to the exchange filing, the dividend will be paid to eligible shareholders by November 24, 2024. Apart from this, the non-banking financial company (NBFC) has announced its second quarter results today. Shares of Shriram Finance Limited closed 3.92% lower at Rs 3,118. The stock has gained 52% so far in 2024 and is up over 70% in the last one year.