Board of Larsen & Toubro approves 1:2 bonus issue

At meeting held on 29 May 2017

Larsen & Toubro announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended a Dividend of Rs. 21/- per share (previous year Rs. 18.25/- per share) and the Company will arrange to pay the same on 24 August 2017, if approved by the members in Annual General Meeting scheduled to be held on 22 August 2017. The book closure for the above will be intimated later.

Further, the Board of Directors has approved, subject to approval of the shareholders, issue of bonus shares to the holders of equity shares of the Company in the ratio of 1:2 ( i.e. One bonus equity share of Rs. 2/- each for every two fully paid equity shares of Rs. 2/- each held).

Subject to shareholders' approval, Bonus shares will be credited or share certificates in respect thereof will be dispatched to shareholders on or before 28 July 2017.

The above referred final dividend of Rs. 21/- per share is pre bonus dividend per share on the existing capital (pre Bonus share capital). Accordingly, the post bonus dividend per share works out to Rs. 14.00/- per share.

Powered by Capital Market - Live News