Shares of Shrenuj & Company has surged 10% to Rs 131, after the company said its board approved the issue of bonus shares in the ratio of 1:1 i.e. One bonus equity share for every one share held.
The stock has hit a high of Rs137 and a low of Rs125.
The record date for the issue of Bonus Shares to the shareholders will be fixed after the approval of the issue of Bonus Shares by the shareholders of the Company through postal ballot in consultation with stock exchanges.
The Board has recommended final Dividend for the financial year ended March 31, 2014, @ 60 paise per equity share of Rs. 2.00 each on the Equity Shares pre-bonus. While recommending the issue of Bonus Equity shares in the ratio 1:1, the Board decided that if the Bonus Equity Shares are issued prior to payment of dividend, the dividend post issue of Bonus Equity Shares would be 30 paise per equity shares of Rs. 2.00 each instead of @60 paise per equity share of Rs. 2.00 each noting that the issue and allotment of bonus shares is likely to be prior to the declaration/approval of dividend by the shareholders at the ensuing Annual General Meeting.
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