Lanka Tiles PLC and its parent, Lanka Walltile PLC, as well as Brown & Company Limited have announced capitalization of reserves and share splits benefiting shareholders according to a publication by the Colombo Stock Exchange.
Browns are capitalizing reserves and making a share issue in the ratio of two to one with each share valued at Rs.42 for purposes of the capitalization after the sub division of each of its shares into nine ordinary shares.
Lanka Tiles will sub divide its shares following a consolidation of every existing five shares into one and thereafter make a sub division of each consolidated share into seven. This would result in shareholders getting seven shares for every five shares held by them with no change in the stated capital of the company following the consolidation and sub division.
Similarly Lanka Walltiles too will engage in a consolidation of sub division of its shares under which shareholders will receive seven shares for every five held by them.
Both Lanka Tiles and Lanka Walltile have told the Colombo Stock Exchange that the final dividends they have declared would be in respect of the shares in issue prior to the consolidation and sub division.
Lanka Tiles has announced a final dividend of Rs.2.62 per share and Lanka Walltile Rs.2.41 per share.