NBCC Share Price | At the board meeting on Saturday, it approved the issuance of bonus shares in the 1:2 ration, which means shareholders will receive 1 bonus share for every two shares that they hold. It has fixed October 7, 2024 as the record date to determine the eligibility of members to receive the bonus shares.
NBCC (India) Ltd on Saturday, August 31, said its board of directors have considered and approved the issuance of bonus shares and have also set the record date.
At the board meeting on Saturday, it approved the issuance of bonus shares in the 1:2 ration, which means shareholders will receive 1 bonus share for every two shares that they hold
The same is subject to the approval of shareholders in the upcoming annual general meeting.
The NBCC board has fixed October 7, 2024 as the record date to determine the eligibility of members to receive the bonus shares. The bonus shares will be credited within two months from the date of approval of the board, which would be October 31, 2024.
This is the first such proposal the company is considering after 2017, which the company had declared a 1:2 bonus issue as well.
Earlier this week, the company also said it has fixed September 6, 2024 as the record date for the the ₹0.63 per share dividend that it had announced previously. The dividend is subject to approval from shareholders at the upcoming Annual General Meeting on September 25.
NBCC shares ended 4.22% lower at ₹186.6 apiece on Friday, August 31. The stock has gained 127.9% this year, so far.
Source Link: NBCC board approves 1:2 bonus issue, fixes October 7 as record date - CNBC TV18