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REC shares decline as company recommends bonus shares

The board has fixed August 18, 2022 as a record date for ascertaining entitlement of eligibility of shareholders for bonus shares.

July 01, 2022 / 09:54 AM IST
REC

REC

Shares of REC Ltd dropped nearly three percent in the early trade on July 1 after company's board recommended the issue of bonus shares to the shareholders of the company.

The board of directors in its meeting held on June 30, 2022 has recommended the issue of bonus shares in the ratio of 1:3, i.e. one (1) bonus equity share of Rs 10 each fully paid-up for every three (3) existing equity shares of Rs 10 each fully paid up, to the eligible members by capitalizing a sum not exceeding Rs 658,30,60,000, company said in a regulatory filing on Thursday after market hours.

The board has fixed August 18, 2022 as a record date for ascertaining entitlement of eligibility of shareholders for bonus shares.

The board has also fixed July 13, 2022 as the record date for determining the eligibility of members for final dividend 2021-22 of Rs 4.80 per share, subject to approval of shareholders at the ensuing AGM.

At 09:26 hrs REC was quoting at Rs 120.30, down Rs 3.45, or 2.79 percent on the BSE.

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The share touched a 52-week high of Rs 168.70 and a 52-week low of Rs 109.70 on 18 October, 2021 and 20 June, 2022, respectively.

Currently, it is trading 28.69 percent below its 52-week high and 9.66 percent above its 52-week low.
Moneycontrol News
first published: Jul 1, 2022 09:53 am
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