NewsCorporate ActionsJulien Agro Infratech Corrects Share Capital Error in Interim Dividend DeclarationJulien Agro Infratech Corrects Share Capital Error in Interim Dividend Declaration
Julien Agro Infratech Limited issued a corrigendum to its interim dividend declaration, correcting the number of outstanding shares from 3,95,78,000 to 5,95,78,000. The error occurred due to a recent preferential allotment of 2 crore shares on July 11, 2025. The company confirmed an interim dividend of Rs. 0.02 per share with a record date of July 25, 2025. The dividend account has been funded for all shares, ensuring compliance with statutory norms. This correction ensures all shareholders, including those from the recent allotment, will be eligible for the dividend.
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Julien Agro Infratech Limited has issued a corrigendum to its recent interim dividend declaration, addressing a technical error in the reported number of outstanding shares. This correction highlights the importance of accurate corporate disclosures and the impact of recent share allotments on dividend distributions.
Key Details of the Corrigendum
The company initially reported its subscribed and paid-up capital as 3,95,78,000 shares. However, the correct figure is 5,95,78,000 shares of face value Rs. 5 each. This discrepancy arose due to a recent allotment of 2 crore shares on a preferential basis on July 11, 2025, which had not been fully reflected in the company's records due to pending listing and trading approvals.
Dividend Declaration and Record Date
Despite the error in share count, Julien Agro Infratech has confirmed the following details regarding its interim dividend:
| Particular | Detail |
|---|---|
| Interim Dividend | Rs. 0.02 per equity share |
| Record Date | July 25, 2025 |
| Payment Timeline | Within 30 days to eligible shareholders |
Impact and Compliance
The company has assured stakeholders that it has:
- Funded the dividend account for all 5,95,78,000 shares
- Complied with all statutory norms related to the dividend declaration
This correction ensures that all shareholders, including those who received shares in the recent preferential allotment, will be eligible for the declared dividend, subject to the record date.
Recent Share Allotment Details
The LODR data provides additional context on the recent share allotment:
| Allotment Detail | Information |
|---|---|
| Number of Shares Allotted | 20,000,000 (2 crore) |
| Allotment Type | Preferential basis |
| Allottee Category | Non-Promoter |
| Date of Allotment | July 11, 2025 |
| Face Value | Rs. 5 per share |
| Issue Price | Rs. 13.50 per share (including Rs. 8.50 premium) |
Corporate Governance Implications
This incident underscores the importance of maintaining accurate and up-to-date shareholder records, especially in the context of corporate actions like dividend declarations. It also highlights the complexities that can arise when corporate actions, such as preferential allotments, coincide with dividend declarations.
Julien Agro Infratech's prompt correction and transparent communication demonstrate a commitment to good corporate governance practices and shareholder rights. The company's actions ensure that all eligible shareholders, including those from the recent allotment, will receive their rightful dividend.
Investors and market participants are reminded of the importance of carefully reviewing corporate announcements and understanding the potential impact of recent corporate actions on their shareholdings and entitlements.
