Berger Paints to declare bonus shares, Q1 results 2023 this month. Details here
Indian stock market bourses that its board will consider and approve the bonus share proposal while discussing its Q1 results 2023. Hence, Berger Paints shareholders are suggested to wait for declaration of Berger Paints bonus shares along with Q1 results for the financial year 2023-24.
Berger Paints informed Indian exchanges about the development citing, "This is in continuation to our letter dated 1st August, 2023 intimating you that the Board of Directors of the Company may also consider proposal for issue of "Bonus Shares" by capitalisation of reserves, subject to approval of the shareholders of the Company, in the forthcoming meeting of the Board of Directors of the Company to be held on 9th August, 2023, at 12 noon as called for considering and approval of, inter alia, the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 30th June, 2023." This is not the first time, when Berger Paints is going to declare bonus shares. The Indian paint major has declared bonus shares earlier as well.
In 2016, Berger Paints declared bonus shares in 2:5 ratio. As per the information available on the official website of BSE, Berger Paints traded ex-bonus on 15th July 2016 for issuance of bonus shares in 2:5 ratio.
Means, after finalisation of the beneficiary shareholders, two bonus shares were issued for every five share held by the eligible Berger Paints shareholders. Berger Paints share price ascended sharply after the paint company shared the bonus shares and Q1 results information with the Indian exchanges.
At the time of this news writing, Berger Paints share price was around ₹700 apiece on NSE, near 2.50 per cent higher from its Monday close of ₹682.40 per share. Disclaimer: The views
. Read more on livemint.com
