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  1. Infosys approves 1:1 bonus issue to celebrate 25 years of stock market listing; check details

Infosys approves 1:1 bonus issue to celebrate 25 years of stock market listing; check details

Infosys 1:1 bonus issue: India's second-largest IT company approved a bonus issue of equity shares to celebrate 25 years of stock market listing while announcing the financial results for the quarter ended 30 June 2018.

By: | Updated: July 13, 2018 5:26 PM
Infosys 1:1 bonus issue: The Bonus issue of equity shares will be credited/dispatched within 2 months from the date of board’s approval by 12 September 2018. (Image: Reuters)

Infosys 1:1 bonus issue: India’s second-largest IT company approved a bonus issue of equity shares to celebrate 25 years of stock market listing while announcing the financial results for the quarter ended 30 June 2018. “The board considered, approved and recommended a bonus issue of one equity share for every equity share held,” Infosys said in an exchange filing. Infosys’ 1:1 bonus issue will “further increase the liquidity of its shares”. Earlier last month, at Infosys AGM, the IT behemoth announced a special dividend of Rs 10 per equity share which was paid to shareholders on 26 June 2018.

This time Infosys has recommended a dividend on 1 American Depositary Share (ADS) for every ADS held, as on the record date which is yet to be determined. “The bonus issue of equity shares and ADSs will be subject to approval by the shareholders, and any other applicable statutory and regulatory approvals,” Infosys said in a statement.

Infosys 1:1 bonus issue details

  1. The bonus equity shares will be issued out of retained earnings, available as at the end of 30 June 2018. As on 30 June 2018, the retained earnings are Rs 49,240.68 crore.
  2. The Bonus issue of equity shares will be credited/dispatched within 2 months from the date of board’s approval by 12 September 2018.
  3. Post-bonus paid-up share capital would be – 21,841,270,910 divided in to 4,368,254,182 equity shares of Rs 5 each, Infosys said in a statement.

Infosys Q1 Results 2019

Infosys reported an increase of 3.5% YoY in the net profit to Rs 3,612 crore for the April-June period of the fiscal year 2018-2019 while the total revenue saw a growth of 12% YoY to Rs 19,128 crore.

Also Read| Infosys Q1 net profit up 3.7% on-year to Rs 3,612 crore: Key figures in a nutshell

Infosys share price today

Infosys share price today saw a rise of 2.84% to Rs 1,331.35 intraday from a share price level of Rs 1294.60 on BSE. Infosys shares closed 1.12% higher at Rs 1,309.1. At the end of today’s closing, Infosys commands a stock market value of Rs 2,85,924.08 crore (seventh-most valued firm on Indian stock exchange).

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