CDSL to consider bonus share issue on July 2, stock surges 16%
CDSL) shares surged 15.9% on the NSE today to reach a new 52-week high of Rs 2,324.80, following the board's announcement of a meeting on July 2 to consider issuing bonus shares to eligible shareholders.
“A meeting of the Board of Directors of Central Depository Services (India) Limited (CDSL/Company) is scheduled to be held on Tuesday, July 02, 2024, inter-alia, to consider and approve the proposal for issuance of Bonus Shares, if any, subject to the approval of the shareholders of the company,” said the company board in a filing to the exchanges.
The record date for this purpose has yet to be determined and will be communicated at a later date.
Based on the available information, this will mark the first instance of the company issuing bonus shares to its shareholders.
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In its Q4FY24 results, the company's board announced a final dividend of Rs 19 per share along with a special dividend of Rs 3 per share, commemorating the 25-year silver jubilee celebrations of CDSL.
CDSL reported an 86% increase in its consolidated Profit After Tax (PAT) to Rs 267 crore for Q4FY24, while its revenue surged by 93% to Rs 240.8 crore.
As Asia's only listed depository, CDSL maintains and provides services to over 11.56 crore investors as of March 2024. During the fiscal year 2023-24, the company witnessed the opening of more than 3.26 crore new demat accounts, with a record 1.09 crore registrations in Q4 FY 23-24 alone. This
