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BHEL gets shareholders' nod for bonus share, 79% dividend

To issue 1 new equity bonus share for every 2 existing shares

Press Trust of India  |  New Delhi 

BHEL gets shareholders' nod for bonus share, 79% dividend

State-owned power equipment maker has received shareholders' approval for the proposal to issue 1 new equity for every 2 existing shares.

The proposal to issue in the ratio of one for every 2 existing shares to members was listed on the agenda for annual general meeting held on September 22, 2017, which as passed by the requisite majority, Bharat Heavy Electricals Ltd (BHEL) said in a BSE filing today.


The shareholder have also approved the proposal to give a final dividend of 39 per cent. With this, the total dividend for the year 2016-17 will stand at 79 per cent.

According to the proposal, shareholder will be issued one new bonus equity share of Rs 2 each for every 2 existing shares of Rs 2 each fully paid up.

BHEL gets shareholders' nod for bonus share, 79% dividend


Prior to the bonus issue, the company has 244.76 crore shares of Rs 2 each aggregating Rs 489.52 crore. Post bonus issue the number of share will increase to 367.14 crore of Rs 2 each aggregating at Rs 734.28 crore.

The company will require Rs 244.76 crore free reserves for implementing the bonus issue. As on March 31, 2017, the company had defined free reserves and surplus of Rs 31,769.74 crore.

Earlier, the company had said that the are estimated to be credited to shareholder account by October 9, 2017.

The company's shares closed at Rs 127.35 apiece, down 1.85 per cent at BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, September 26 2017. 00:31 IST
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