REC Limited announced bonus shares after the recommendation of the board of directors in the ratio of 1:3 and has also fixed record date for the same.
According to the company’s statement, “The Board of Directors (BOD) has recommended the issue of Bonus shares to the shareholders of the Company in the ratio of 1:3, i.e. one (1) bonus equity share of Rs 10- each fully paid-up for every three (3) existing equity shares of Rs 10- each fully paid- up to the eligible members, subject to the approval of shareholders through postal ballot.”
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On August 18, 2022, shareholders’ eligibility was fixed for ascertaining the entitlement. Additional shares are issued by the company to already existing shareholders, and bonus shares are fully paid up.
Also, the board of directors has fixed the record date on July 13 for the eligibility of members for the final dividend 2021-22 of Rs 4.80 per share, which is subjected to the approval of shareholders at the Annual General Meeting (AGM).
Further, the aforesaid dividend, if declared at the ensuing AGM, will be paid to the shareholders within thirty days from the date of AGM.
Additionally, the final dividend is to the interim dividends of Rs 10.50 per equity share already declared and paid during the year in three tranches, thereby making the total dividend for FY 2021-22 to Rs 15.30 per share on the face value of Rs 10 each.
