1:1 Bonus Share, Rs 5/Share Dividend: IT Stock Trades Ex-Bonus, Rallies 350% In 1-Yr

Mid cap company from the IT Software sector Newgen Software Technologies Ltd shares hit 5.00% upper circuit in trade on BSE as it trades ex-bonus today. Newgen Software Technologies Ltd shares witnessed spurt in volume by over 1.06 times. Last trading price of Newgen Software Technologies share on BSE is Rs 815.10 apiece with intraday rally of 5.00%. Newgen Software Technologies Ltd shares offered return of 350% in last 1-year and surged 161% in last 6-months. Check details below:

What Is Bonus Issue, Why Are Bonus Shares Issued? These are additional shares given to the existing shareholders without any extra cost, on the basis of the number of shares that a shareholder holds. Bonus shares are company's accumulated earnings which are not given out in the form of dividends, but are converted into bonus shares of free shares.

Newgen Software Technologies Trade Ex-Bonus Today: The shareholders of Newgen Software Technologies will be eligible to receive 1 bonus share for every one share held today as it is the record date that the company fixed on November 12, 2023. As per the regulatory filing of the company, "Newgen Software's Board of Directors had already approved 1:1 bonus issue on November 27 and fixed January 12 as the record date. It implies shareholders will become eligible to receive one bonus share for every one share held as on January 12, 2024."

Newgen Software Dividend: Newgen Software Technologies declared 6 dividends since August 1, 2018. In the last 12 months, Newgen Software Technologies announced an equity dividend amounting to Rs 5.00 per share. If the current share price of Rs 815.10 is taken into consideration, Newgen Software Technologies offers dividend yield of 0.31%.

Newgen Software Stock Performance & Return Over Years: The stock's 52-week high price is Rs 825.50 apiece and 52-week low price is Rs 178.55 apiece, respectively. Newgen Software shares gave strong return in last few years. Newgen Software shares gained 78% in last 3-months, soared 145% in last 6-months, surged 350% in last 1-year only, and gave return of 452% in last 3-years. In last 5-years, Newgen Software shares jumped 430%.

Newgen Software Technologies Financials: The company for the quarter ended September 2023 declared a surge of 29.7% in its revenue from operations to Rs 293 crore as compared to Rs 226 crore in the corresponding quarter of last fiscal. Its EBITDA zoomed 59.3% YoY to Rs 57.2 crore for the quarter under consideration. The company's margins got better by 290 basis points to 19.5%. "Upon the sanction becoming effective from the appointed date i.e. 01.04.2022 as provided under the Scheme, NTSPL stands dissolved without undergoing the process of winding up," the company said.

About Newgen Software: Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen's industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries. Newgen unlocks simple with speed and agility, according to its official website.

Disclaimer:

The stock highlights the bonus share, dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.