Ashok Leyland Bonus Shares
According to a press release from the Hinduja Group company, its board of directors have approved, the issue of fully paid bonus shares in the proportion of one share of Re 1 each for every subject to statutory approvals.
The bonus shares shall rank pari passu in all respects except that these shares shall not be eligible for dividend for the year ended March 31. Mr Dheeraj G Hinduja, Chairman, Ashok Leyland, said in the release: “Ashok Leyland has always endeavoured to create greater value for the shareholders and this is just one more step in that direction. The board felt that it was appropriate that the fruits of success of the company, over the last several years be shared with those who have invested in the company.”
On the BSE, the company’s shares of Re 1 closed lower at Rs 50.45 against the previous close of Rs 50.65.
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