After 4.75/Share Dividend, Maharatna Co Likely To Reward Shareholders With Bonus Issue

Leading public sector company Power Grid Corporation is all set to consider announcement of bonus share on Monday, July 31, 2023. Earlier, the Maharatna company fixed August 8 as the record date for final dividend of Rs 4.75 per share final dividend. Power Grid Corporation shares jumped 3.05% on BSE intraday on July 28, 2023. Last trading price of Power Grid Corporation stock is Rs 258.25 apiece. Check details below:

Power Grid Corporation Plans To Reward Shareholders With Bonus Shares: As per the BSE filing of Power Grid Corporation dated July 25, 2023, "In terms of Regulation 29 & 50 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is to inform that the meeting of the Board of Directors of the Company will be held on Monday, 31st July, 2023 to consider and approve the following Agenda Items:

1. Declaration of Bonus shares subject to approval of shareholders of the Company,

2. Raise funds up to Rs 12,000 Crore, from domestic market through issue of secured, and / unsecured, non-convertible, non-cumulative/cumulative, redeemable, taxable / tax-free Debentures/Bonds under Private Placement during the Financial Year 2024-25 in one or more tranches/offers subject to the approval of shareholders of the Company,

3. Unaudited Financial Results of the Company for the Quarter ended 30th June, 2023 after these Results are reviewed by the Audit Committee;
Bonus Share History: As per Trendlyne data, Power Grid Corporation of India offered 1 bonus since July 29, 2021. It declared its last bonus issue in the ratio of 1:3 and the ex-bonus date was July 29, 2021.

Power Grid Corporation Stock Performance & Return: Last trading price of Power Grid Corporation share is Rs 258.25 apiece. Its 52-week high price is Rs 263.65 apiece and 52-week low price is Rs 186.35 apiece, respectively. The large cap company has a market capitalisation of Rs 1,80,141.07 crore. Power Grid shares soared 18% in last 6-months, gained 21% in last 1-year, surged 51% in last 2-years, rallied 89% in last 3-years, and witnessed a rally of 92% in last 5-years.

Power Grid Corporation Financial Performance: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 12,557.44 crore, up 8.91% from preceding quarter total income of Rs 11,530.22 crore. It announced its recent quarter net profit after tax at Rs 4,373.79 crore.

Power Grid Corporation About: Power Grid Corporation of India Limited (POWERGRID), is a Schedule 'A', 'Maharatna' Public Sector Enterprise of Govt. of India which was incorporated on 23rd Oct 1989 under the Company Act, 1956. It is a listed Company, with 51.34% holding of Government of India and the balance is held by Institutional Investors and public, according to its official website.

Disclaimer: The stock highlights the dividend, bonus issue 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 ay losses. Please consult a professional advisor.