Dividend paying small-cap stock announces 1:1 bonus share. Do you own?
1 min read 11 Aug 2022, 02:08 PM ISTBoard of dividend paying stock has fixed 27th September 2022 as record date for issuance of bonus share
PremiumDividend paying stock: To commemorate 30 years of incorporation of the company, the board of directors of Ram Ratna Wires Ltd has recommended issuance of bonus shares in the ratio of 1:1. The small-cap company's board has also fixed 27th September 2022 as record date for bonus share issue. ram Ratna Wires is one of the dividend paying stocks in August 2022 as it going to trade ex-dividend on 25th August 2022. The small-cap company board has announced final dividend of ₹5 per equity share for the financial year 2021-22.
Informing Indian stock market exchanges about the bonus shares, Ram Ratna Wires Ltd said, "To commemorate 30 years of incorporation of the Company, the Board has recommended the issue of Bonus Shares in the ratio of 1:1 i.e. 1 (One) equity share of Rs. 5/- each for every 1 (One) fully paid-up equity share of Rs. 5/- each held by the Shareholders of the Company as on the Record Date, subject to the approval of the Shareholders at the ensuing 30th Annual General Meeting of the Company and any other applicable statutory and regulatory approvals. The Board has fixed Tuesday, 27th September, 2022 as the 'Record Date' to determine entitlement of the Shareholders to receive Bonus Shares."
The board of directors at their meeting held on 10th August 2022 have approved issuance of bonus equity shares of the company in the proportion of 1 (One) bonus equity share of ₹5 each for every 1 (One) existing equity share of ₹5 each, subject to approval by the members at the ensuing AGM to be held on Wednesday, 21st September 2022.
In May 2022, the board of directors of Ram Ratna Wires Limited had announced final dividend citing, "In terms of Regulations 30 and 33 of the Listing Regulations, we wish to inform you that the Board of Directors of the Company at their meeting held today, i.e., on Monday, 23rd May, 2022, has, inter alia, considered and approved the dividend subject to approval of Shareholders at the ensuing Annual General Meeting as per details attached herewith. Kindly take on record the same."
