Oil & Natural Gas Corporation (ONGC) has announced bonus equity shares in the ratio of 1:1 post the split in its equity shares.
The board of directors of the company, at its meeting held today, approved the division of each equity share of Rs 10 each fully paid up into two equity shares of Rs 5 each fully paid up.
“The board recommended approval of shareholders for issuance of bonus shares in the proportion of one new equity bonus share of Rs 5 each for every one existing equity share of Rs 5 each fully paid-up by capitalisation of reserves,” the company said in a filing.
The board also approved a special interim dividend of Rs 32 a share of Rs 10 each fully paid-up for FY2010-11.
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