Central Depository Services' board approved the issuance of bonus shares for the company's investors. The board also announced the record date for its dividend.
What Happened: The company approved the issuance of bonus shares in the ratio of 1:1, signifying for every share held in the company, the investor will receive another. The company said it will inform the record date for the bonus shares in due course.
After the issue, the CDSL share price will be adjusted downward to approximately half of its pre-bonus issue level, assuming all other factors remain constant. This marks the first time the company is issuing bonus shares to its shareholders. The bonus shares are expected to be credited within two months from the date of the Board’s approval, by or before September 1, 2024.
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In addition, the market infrastructure institution also announced July 16 as the record date for determining the shareholders that will receive dividends announced by the company. CDSL had announced a final dividend of ₹19 and a special dividend of ₹3, making the total dividend to ₹22.
The company also announced August 17 as the date for its Annual General Meeting.
Price Action: Shares of CDSL fell 1.15% to ₹2,409.95 on Tuesday afternoon.
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