 "ITC gains on 1:2 bonus, special dividend")
ITC moved higher by 4% to Rs 337 on the BSE after the cigarette maker announced a bonus issue in a ratio of 1:2.
“The board has recommended issue of bonus shares in the proportion of 1 bonus share of Rs 1 each for every existing 2 fully paid-up ordinary shares of Rs 1 each,” ITC said in a statement.
The said bonus shares, if approved by the members, will be credited or share certificates in respect thereof will be dispatched, where shares are held in the dematerialised form and in the physical form, respectively, by July 19, 2016, it added.
The board has also recommended dividend of Rs 8.50 (including special dividend of Rs 2) per ordinary share of Rs 1 each for the financial year ended March 31, 2016.
The register of members & share transfer books of the company will remain closed from June 01, 2016 to June 03, 2016 (both days inclusive) for the purpose of payment of dividend & 105th Annual General Meeting (AGM) of the company to be held on July 22, 2016. The dividend, if declared, will be paid on July 25, 2016, ITC said.
The stock finally settled at Rs 330, 2% higher on the BSE. The counter recorded huge trading volumes with a combined 15.01 million shares changed hands on the BSE and NSE.
“The board has recommended issue of bonus shares in the proportion of 1 bonus share of Rs 1 each for every existing 2 fully paid-up ordinary shares of Rs 1 each,” ITC said in a statement.
The said bonus shares, if approved by the members, will be credited or share certificates in respect thereof will be dispatched, where shares are held in the dematerialised form and in the physical form, respectively, by July 19, 2016, it added.
The board has also recommended dividend of Rs 8.50 (including special dividend of Rs 2) per ordinary share of Rs 1 each for the financial year ended March 31, 2016.
The register of members & share transfer books of the company will remain closed from June 01, 2016 to June 03, 2016 (both days inclusive) for the purpose of payment of dividend & 105th Annual General Meeting (AGM) of the company to be held on July 22, 2016. The dividend, if declared, will be paid on July 25, 2016, ITC said.
The stock finally settled at Rs 330, 2% higher on the BSE. The counter recorded huge trading volumes with a combined 15.01 million shares changed hands on the BSE and NSE.
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