CDSL's gift to investors, bonus share to shareholders!!!
A gift to its shareholders has been announced by Central Depository services Limited. Giving shareholders one bonus share for each share they own has been approved by CDSL's board. After receiving board approval, the bonus shares will be distributed to stockholders by september 1, 2024, at the latest.
In a filing with the National Stock Exchange, CDSL stated that the company's Board of Directors has recommended awarding shareholders one bonus share in return for one share with a face value of Rs 10. Bonus shares will be awarded to investors who owned CDSL shares on the record date following regulatory and shareholder approvals. According to the corporation, the record date for determining whether shareholders are eligible for bonus shares will be announced soon.
Following the issue of bonus shares to the CDSL board shareholders, the company's stock is down 1.11 percent at Rs 2410. Since becoming public, CDSL stock has provided investors with substantial profits, making it a multibagger. In 2017, the business went public on stock exchanges. During the IPO, the company raised capital from the market at a price of Rs 149 per share. Also, the stock is now trading at a 15-fold premium above its IPO price. The stock has provided a multi-bagger return of more than 1000 percent during the past five years. A BSE subsidiary, CDSL works in the securities depository industry.
The business stated in the filing that, subject to shareholder approval at the investors' annual general meeting, a total dividend of Rs 22 will be distributed, consisting of a special dividend of Rs 3 per share and the final dividend of Rs 19 for the fiscal year 2023–2024. The date of the AGM meeting is august 17, 2024. Additionally, the record date of July 16th has been set in order to identify the investors who are eligible to collect the dividend.
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