The board of Indian stock exchange BSE limited approved a 2:1 bonus share issue, as per the filing on Sunday.<\/p>\n
As per the announcement, the BSE will grant two shares for every one held by shareholders as of the record date.<\/p>\n
“Issue of Bonus equity shares in the ratio 2:1 i.e. 2 (Two) equity shares of Rs 2 each for every 1 (One) full paid-up equity share of Rs 2 each held by the Shareholders of the Company as on the Record Date, subject to the approval of Shareholders through Postal Ballot,” BSE said in a filing.<\/p>\n
This marks the second instance when BSE has announce the bonus share issue after its listing in in 2017. The record date is not determined for the latest bonus issue.<\/p>\n
As per the filing bonus shares will be issued from and out of Capital Redemption Reserves and General Reserve as available on December 31, 2024.<\/p>\n
According to the filing only investors holding shares of the company before the ex-date will be eligible for the bonus shares.<\/p>\n
Bonus shares are usually issued by companies in order to increase their earnings per share (EPS), extend their paid-up capital, and take advantage of free reserves while lowering reserves. Existing stockholders receive these shares at no further expense.<\/p>\n
According to publically available information, the exchange announced a dividend of Rs 12 per share in May 2023, with the ex-dividend date on August 4, 2023. Additionally, in June 2024, BSE announced a final dividend of Rs 15 per share, with the ex-dividend date on June 14, 2024.<\/p>\n
Established in 1875, BSE (formerly known as Bombay Stock Exchange), is Asia’s first & the Fastest Stock Exchange in world with the speed of 6 micro seconds and one of India’s leading exchange groups.<\/p>\n
Over the past 143 years, BSE has facilitated the growth of the Indian corporate sector by providing it an efficient capital-raising platform. Popularly known as BSE, the bourse was established as ‘The Native Share & Stock Brokers’ Association’ in 1875. In 2017 BSE become the 1st listed stock exchange of India.<\/p>\n
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)<\/i><\/p>\n
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