CDSL Approves 11 Bonus Issue, Announces Record Date For Dividend
CDSL Approves 1:1 Bonus Issue, Announces Record Date For Dividend
Central Depository Services Limited (CDSL) has decided to issue bonus shares to its investors. The company’s board has also set a date to determine who will receive the upcoming dividend.
What Happened: CDSL’s board has approved a 1:1 bonus share issue, meaning investors will get one additional share for every share they currently own. The company mentioned that it will announce the record date for these bonus shares soon.
Once the bonus shares are issued, the price of CDSL shares will be adjusted to about half of their current value, assuming no other changes. This is the first time CDSL is giving out bonus shares to its shareholders. The bonus shares are expected to be credited within two months from the board’s approval, by or before September 1, 2024.
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Additionally, CDSL has set July 16 as the record date to identify shareholders eligible for the dividend. The company had earlier announced a final dividend of ₹19 and a special dividend of ₹3, totaling ₹22.
The company also announced that its Annual General Meeting will be held on August 17.
Price Action: On Tuesday afternoon, CDSL shares dropped by 1.15%, closing at ₹2,409.95.
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