Godfrey Phillips is likely to consider a bonus issue to the shareholders in the upcoming board meeting. The announcement was made in an exchange filing before the cigarette maker's 87th annual general meeting (AGM) on September 6, Friday.
A meeting of the board of directors is scheduled to be held on Friday, 20th September 2024 to consider and recommend 1:2 bonus issue, the company said in a regulatory filing today.
A 1:2 bonus issue means the shareholders will get two free shares for each held, if it is approved by the board.
The company's board would consider and recommend to shareholders, for their approval, the issue of bonus shares by capitalization of reserves.
"...issue of bonus shares in the ratio of 2:1 i.e. 2 (Two) new fully paid-up Equity Shares of Rs. 2/- each for every 1 (One) existing fully paid-up Equity Share of Rs. 2/- each, to the Equity Shareholders of the Company by capitalization of reserves," the company said.
Godfrey Phillips share price hit the new all-time high on 6 September trade to Rs 7095 per share on the NSE, rising 10.65 percent from its previous close. The stock has been gaining for the last two days and has risen 10.15 percent in the period.
About 10 lakh shares changed hands today of Godfrey Phillips generating a total turnover of Rs 665.83 crore on the NSE. The large cap company has a market cap of Rs 37,591.60 crore, as per NSE website.
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