Last chance to buy for eligibility! Record date for CDSL's 1:1 bonus issue is Friday. Details here
CDSL), in its board meeting held in July, had announced a bonus issue of shares for its eligible shareholders in the ratio of 1:1, for which the record date was fixed as August 24.
“With reference to the captioned subject and our earlier intimation dated July 02, 2024, and pursuant to the provisions of Regulation 42 of the SEBI Listing Regulations, we wish to inform that the Company has fixed the 'Record Date' as Saturday, August 24, 2024,” said the company in a filing to the exchanges.
Bonus shares are issued to the shareholders whose names appear in the company's database on the record date. After the implementation of the T+1 framework, the record date and ex-date are the same in most cases unless there is a market holiday after the ex-date.
Since August 24 falls on Saturday, which is a market holiday, August 23 becomes the ex-date for the issue and hence, today will be the last day to buy the shares to qualify for the eligibility.
Shareholders who buy the stock at least one day before the ex-date are eligible for dividends as settlement happens the next day. Those buying the stock on the ex-date are not eligible for dividends.
A 1:1 bonus share issue means that for each share of the company held by its shareholders, they would get one extra share credited in their accounts and this is the first ever instance in which the company will be issuing bonus shares to its shareholders, as per the available information.
The shares of CDSL closed flat at Rs 2,872.55 on NSE on Wednesday.
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