CDSL Bonus Share News: BIG announcement - Check ratio
cdsl bonus share news: big announcement - check ratio, record date
CDSL Bonus Shares: The big wait is over!Central Depository Services' (CDSL) Board at its meeting held on Tuesday, July 2, has formally approved the issuance of bonus shares.
Companies issue bonus shares to capitalise on their free reserves, increase their Earnings Per Share (EPS) and paid-up capital, along with reducing the reserves. Shareholders are issued these shares at no additional cost and hence are also known as free shares.
CDSL's shares have jumped more than 20 per cent in the last three days in anticipation of its first-ever bonus issue announcement.
CDSL Bonus Shares Ratio
CDSL has announced a bonus issue in the ratio 1:1. This means investors will receive 1 shares for every 1 share held in their portfolio.
"The Board of Directors has recommended the issuance of Bonus Shares to the Shareholders of the Company in the ratio of 1:1 i.e. 1 (One) new fully paid-up Equity Share of ₹ 10/- (Rupees Ten Only) each for every 1 (One) existing fully paid-up Equity Share of ₹ 10/- (Rupees Ten Only) each to the eligible Shareholders of the Company as on Record Date, subject to the approval of the Shareholders and other statutory/regulatory approvals, consents, permissions, conditions, and sanctions, as required," said the company in an exchange filing.
CDSL Bonus Issue Record Date
CDSL has not yet fixed a record date to determine shareholder's eligibility for the bonus issue. However, the company said that it will "inform the record date for determining eligible shareholders entitled for issuance of bonus shares, in due course."
CDSL Dividend 2024
In its Q4FY24 results, the company's board announced a final dividend of Rs 19 per share along with a special dividend of Rs 3 per share, commemorating the 25-year silver jubilee celebrations of CDSL.
"The Board of Directors of the Company at its Meeting held on May 04, 2024, had recommended a final dividend for the financial year 2023-24 of ₹ 19/- and a special dividend of ₹ 3/- per equity share of the face value of ₹ 10/- bringing the total dividend payout to ₹ 22/- per equity share, for approval by the Shareholders at the AGM," said the company in a separate filing.
CDSL Dividend 2024 Record Date
"The Company has fixed Tuesday, July 16, 2024, as the “Record Date” for the purpose of determining the Shareholders eligible to receive dividend for the financial year 2023-24. The Dividend, if approved at the AGM, will be paid within a period of 30 days from the conclusion of the AGM," said the company.
(To be updated)