Bonus shares: Power Grid stock in focus as share trades ex-bonus today
Bonus shares 2023: Power Grid shares will be in focus today as the PSU stock is going to trade ex-bonus today. The board of directors of Power Grid Corporation of India Limited has declared issuance of bonus shares in 1:3 ratio, which means one bonus share for every three shares held by company shareholder on Power Grid bonus share record date. The board of directors has fixed 12th September 2023 as record date for finalising eligible shareholders for issuance of bonus shares.
Power Grid Corporation of India informed Indian stock market bourses about the bonus share record date citing, "Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is to inform that the Company has fixed the Record Date as 12th September, 2023 for the purpose of ascertaining the eligibility of members entitled for issuance of Bonus Shares of the Company in proportion of 1:3 i.e. 1 (One) equity share of nominal value Rs.10/- (Rupees Ten Only) each for every 3 (Three) equity shares of nominal value of Rs. 10/- (Rupees Ten Only) each held by Member(s)." This is not the first time when Power Grid Corporation of India Limited is trading ex-bonus today.
As per the information available on BSE website, Power Grid shares traded ex-bonus for issuance of 1:3 bonus shares. The PSU stock has a history of paying habndsome dividends as well. The dividend stock has given away bonus shares twice in 2023.
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