The board of directors of Shakti Pumps has recommended a bonus issue for its shareholders in the ratio of 1:5, meaning that every shareholder will receive five free equity shares for each share they hold.
The decision was made during a board meeting held today, the company informed in an exchange filing.
In its official statement, the company said, "The board has recommended issuing bonus shares in the ratio of 5:1, i.e., five new fully paid-up equity shares of Rs 10 each for every one existing fully paid-up equity share of Rs 10 each to the eligible shareholders as on the record date."
The record date, which determines the eligibility of shareholders for the bonus shares, has not been fixed yet. The company noted that it would inform the exchanges about the record date "in due course of time."
Shares of Shakti Pumps saw a decline, slipping 5 percent during today's trading session. The stock has been losing for the last three trading sessions and is trading lower than 5 day - 200 day moving averages.
The company had paid a final dividend of Rs 4 per share on 23rd September 2024 to its shareholders. Earlier, on 21st September 2023, it distributed a dividend of Rs 2 to its shareholders.
A total of 1.34 lakh shares changed hands today of Shakti Pumps generating a total turnover of Rs 58.50 crore. The company has a market cap of Rs 8,654.76 crore, as per NSE website.
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