Bonus Shares: This broking firm will reward shareholders on April 26

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Brokerage firm Motilal Oswal Financial Services Ltd. has informed the exchanges that it will hold a board meet on April 26 to consider an issue of bonus shares.

Along with that proposal, the board will also consider earnings for the March quarter.

This will be the first instance of the company considering an issue of bonus shares to shareholders. In February this year, the company had declared a dividend of ₹14 per share.

Over the last five years, the company has paid dividends worth ₹56 per share to shareholders.

Shares of Motilal Oswal Financial Services are already up 24% so far in the month of April. For 2024 so far, the stock has already surged 66%, having surged 44% in the month of January. It declined 10% in February and gained 3% in the month of March.

The stock had gained 81% in 2023 and declined 25% in 2022. It had also carried out a share buyback in 2022 where it repurchased shares worth ₹160 crore between June and July 2022 via the tender offer route.

Shares of Motilal Oswal Financial Services are trading 3.2% higher at ₹2,150. The stock is up 250% over the last 12 months.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow