Bonus shares: Power Grid stock in focus as share trades ex-bonus today

Bonus shares 2023: Power Grid shares will be in focus today as the PSU stock is going to trade ex-bonus today. The board of directors of Power Grid Corporation of India Limited has declared issuance of bonus shares in 1:3 ratio, which means one bonus share for every three shares held by company shareholder on Power Grid bonus share record date. The board of directors has fixed 12th September 2023 as record date for finalising eligible shareholders for issuance of bonus shares.

Apart from being ex-bonus, the PSU stock will be in focus as it has been declared successful bidder under Tariff Based Competitive Bidding (TBCB). Power Grid Corporation of India Ltd informed Indian bourses about the development citing, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is to inform that Power Grid Corporation of India Limited has been declared as successful bidder under Tariff Based Competitive Bidding to establish Inter-State Transmission System Project namely “Transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase-III Part C1” on Build, Own Operate and Transfer (BOOT) basis. The Letter of Intent (LoI) has been received by Power Grid Corporation of India Limited on 11th September, 2023."

Power Grid bonus shares 2023

Power Grid Corporation of India informed Indian stock market bourses about the bonus share record date citing, "Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is to inform that the Company has fixed the Record Date as 12th September, 2023 for the purpose of ascertaining the eligibility of members entitled for issuance of Bonus Shares of the Company in proportion of 1:3 i.e. 1 (One) equity share of nominal value Rs.10/- (Rupees Ten Only) each for every 3 (Three) equity shares of nominal value of Rs. 10/- (Rupees Ten Only) each held by Member(s)."

Power Grid bonus share history

This is not the first time when Power Grid Corporation of India Limited is trading ex-bonus today. As per the information available on BSE website, Power Grid shares traded ex-bonus for issuance of 1:3 bonus shares.

Dividend paying stock

The PSU stock has a history of paying habndsome dividends as well. The dividend stock has given away bonus shares twice in 2023. As per the information available on BSE website, Power Grid Corporation traded ex-dividend on 8th February 2023 for payment of ₹5 per share interim dividend to its eligible shareholders. Similarly, it traded ex-dividend on 8th August 2023 for payment of ₹4.75 per share final dividend to its eligible shareholders.

In 2022, the dividend stock traded ex-dividend stock on three different occasions. On 16th February 2022, Power Grid Corporation traded ex-dividend for payment of ₹5.50 per share dividend to its eligible shareholders. Similarly, it gave ₹2.25 and ₹5.00 per share dividend in August and November in previous year.