Motilal Oswal shareholders will get three bonus shares for every one held

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

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Motilal Oswal Financial Services Ltd., the broking firm, has approved issuing three bonus shares for every one share held as of the record date.

Record date for the bonus issue of shares is yet to be determined. This is the first ever issue of bonus shares that the company has considered.

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.

Motilal Oswal reported a net profit of ₹724.6 crore for the March quarter, while revenue also doubled to ₹2,141.3 crore from ₹1,027.4 crore last year. Net profit during the same quarter last year stood at ₹167.3 crore.

Post the bonus issue of shares, the company’s paid-up equity share capital will comprise of 59.6 crore equity shares of face value of ₹1. Motilal Oswal will capitalise ₹44.7 crore from the Securities Premium Account for implementing the bonus issue of shares.

As of March 31, the company had an aggregate amount of ₹534.9 crore as an aggregate amount of its securities premium account.

Shares of Motilal Oswal are trading 5.7% higher at a record high ₹2,064.6. The stock has already doubled so far in 2024. The stock had surged 50% so far this month and 44% in the month of January. It gained 3.2% in March and fell 10% in February.

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