ITC proposes issue of bonus shares to celebrate centenary

ITC plans to issue bonus shares in the ratio 1:1 to celebrate their centenary year.

The bonus is subject to shareholder’s approval at the annual general meeting to be held on 23 July, 2010.

In a notification to Bombay Stock Exchange, the company said, “(The bonus issue is to acknowledge) the unstinted support of shareholders who have steadfastly stood by the company through this inspiring voyage of growth and transformation…”

Post the bonus announcement, ITC’s stock gained Rs 4.25, or 1.42 per cent while the Sensex was down 23.15. During market hours, the share was trading at Rs 303.10.