NBCC Bonus Share: Public sector company NBCC has great news for its shareholders. The company board has approved the issuance of bonus shares and fixed the record date. Bonus shares will be given to the shareholders in the ratio of 2:1, which means that one share will be given to the shareholders for every two shares. The company board has also approved the issuance of Rs 90 crore. Its record date has been fixed as October 7, 2024.
Shareholders Will Get One Share For Every Two Shares
NBCC (India) Limited said in a regulatory filing on Saturday that the Board of Directors has recommended the issuance of bonus shares to the shareholders of the company in the ratio of 2:1. NBCC said that 90 crore bonus shares with a face value of Rs 1 will be issued for this work. Rs 90 crore will be spent from the company’s profit on this. The company currently has Rs 1,959 crore lying as reserve and surplus. Shareholders’ approval will be sought in the company’s upcoming AGM.
Bonus Shares Will Be Transferred By October 31
NBCC is a Navratna public sector company. It works in the construction sector. The company said the bonus shares will be transferred by October 31, 2024. Earlier, the company had fixed September 6 as the record date for paying the final dividend for the financial year 2023-24. The company had announced a dividend of Rs 0.63 per share for the last financial year. NBCC recently sold its 100% retail and office inventory for Rs 14,800 crore.
NBCC and HSCC Are Getting Big Orders
On August 14, NBCC’s subsidiary HSCC received a work order of Rs 528.21 crore from Medical Education and Research, Haryana. The company was ordered to supply biomedical equipment and hospital furniture for Deen Dayal Upadhyaya University of Health Sciences, Karnal. On August 9, the company also received a big order from the Srinagar Development Authority to set up a township. On Friday, NBCC’s stock closed at Rs 186.37 on the NSE.
