Modest gains for Reliance on bonus plans
Mumbai: Reliance Industry says, one bonus share will be issued for every share held by an investor. The company has also declared a dividend of 130% or Rs 13 per fully paid-up equity share of Rs 10.
A company statement said, “The proposal for bonus and dividend continues Reliance’s tradition of rewarding shareholders on a sustained basis.”
The company also released restated results for 2008-09 to reflect the absorption of RPL effective from April 1, 2008.
The stock touched a high of Rs 2,209 but slipped 5% from there to touch a low of Rs 2,100. The stock managed to recover its losses and ended at Rs 2,119 – up 1%. Over 2.48 million shares were traded on the BSE today.
The dividend will result in a payment of Rs 2,219 crore, inclusive of taxes of Rs 322 crore. Both the bonus shares and dividend will also accrue to the shareholders of Reliance Petroleum (RPL).
Category: Business
