Home / Markets / Stock Markets /  Redington India board approves bonus issue of shares in ratio of 1:1

Redington India on Wednesday announced that the board of the company has approved bonus issue in the ratio of 1:1. The record date for reckoning the eligible shareholders entitled to be allotted bonus shares has been fixed as August 20. The bonus issue is subject to shareholders and other approvals.

''The Board of Directors have considered, approved and recommended a bonus issue of one equity share of INR 2/- (Rupees Two only) each fully paid up for every one equity share of INR 2/- (Rupees Two only) each held as on the Record date decided for this purpose. This bonus issue will be subject to the approval of shareholders and other approvals, consents, permissions, conditions and sanctions, as may be necessary,'' it said in an exchange filing.

The company said that the bonus equity shares will be issued out of free reserves and/or securities premium account and/or capital redemption reserve account of the company available as at March 31, 2021. It added that the bonus shares once allotted shall rank pari-passu in all respects and carry the same rights as the existing equity shares.

Redington also announced the revision of record date for final dividend of FY 2020-21. The company said, ''on account of the above bonus issue and in order to comply with the regulations, the record date of final dividend (including one–time special dividend) of FY2020-21 fixed as August 4, 2021 is now advanced to July 19, 2021 by the board.''

Shares of Redington (India) were trading over 3% higher in Wednesday's afternoon deals at 316 per share on the BSE.

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