We are pleased to inform that our Subsidiary Company, Prima Union Plasticos S.A. located at Guatemala has declared dividend. The details are attached herewith.
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Awaiting price reaction for this filing.
Prima Plastics Ltd's subsidiary in Guatemala, Prima Union Plasticos S.A., has declared a dividend of Quetzal 69,03,945 (approximately USD 900,000 gross). Prima Plastics holds a 90% stake in the subsidiary, so it will receive roughly USD 810,000 (approximately ₹6.8 crore, depending on exchange rate) as its share of the dividend. The filing is being made under SEBI Listing Regulations to keep the stock exchanges informed. No further details on record date or payment timeline have been provided in this update.
This is a modest positive cash inflow from the company's Guatemala operations. For a small-cap like Prima Plastics, the amount is not very large but signals that the overseas subsidiary is generating enough surplus to reward shareholders. The stock price is unlikely to move significantly on this news alone.