Mumbai (Maharashtra) [India], March 30 (ANI): The board of Indian stock exchange BSE Limited has approved a 2:1 bonus share issue, as per a filing on Sunday.
Under this announcement, BSE will grant two shares for every one held by shareholders as of the record date.
“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 stated in its filing.
This marks BSE’s second bonus share issuance since its listing in 2017. The record date for the latest bonus issue is yet to be determined.
Bonus Share Details
As per the filing, the bonus shares will be issued from the Capital Redemption Reserves and General Reserve available as of December 31, 2024.
Only investors holding shares before the ex-date will be eligible for the bonus shares.
Significance of Bonus Shares
Bonus shares are typically issued by companies to:
- Increase earnings per share (EPS)
- Expand paid-up capital
- Utilize free reserves while reducing the reserve balance
- Provide additional benefits to existing shareholders at no extra cost
Dividend History
According to publicly available data:
- In May 2023, BSE announced a dividend of Rs 12 per share, with the ex-dividend date on August 4, 2023.
- In June 2024, BSE announced a final dividend of Rs 15 per share, with the ex-dividend date on June 14, 2024.
About BSE
Founded in 1875, BSE (formerly Bombay Stock Exchange) is Asia’s first and fastest stock exchange, with a speed of 6 microseconds. Over 143 years, it has been a key platform for the Indian corporate sector, facilitating capital raising.
BSE was originally established as “The Native Share & Stock Brokers’ Association” and became India’s first listed stock exchange in 2017. (ANI)
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