Share Market News: Servotech Announces Final Dividend | Check Amount And Other Details

Share Market News: Servotech Power Systems has informed exchanges that its board has recommended a final dividend of 5 per cent per equity share or Re 0.05, having a face value of Rs 1 each, for the financial year 2023-2024. However, the Dividend is subject to the shareholders’ approval in the ensuing Annual General Meeting of the Company.
“Recommendation of Final Dividend @ 5% per equity share (Re 0.05), having face value of Rs 1 each, for the financial year 2023-2024,” the company said in an exchange filing. Meanwhile, Servotech Power Systems has announced its plan to invest Rs 100 crore in establishing a facility dedicated to manufacturing components for electric vehicle (EV) chargers.
The company indicated that an investment of Rs 100 crore would be allocated to the creation of an EV charger component manufacturing facility. It was mentioned that the plant’s initial annual production capacity is scheduled at 24,000 power modules.