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Multibagger stock announces bonus and dividend; fixes record date


Image Source: FREEPIK A young man is resting on the couch checking the stock market on his laptop.

Bonuses and dividends are corporate events announced by companies listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in an attempt to reward their investors. In 2023 there was an abundance of such announcements. IFL Enterprises, a multibagger stock, has announced a double bonus for its investors.

According to a BSE filing, the multibagger stock has declared a bonus issue of equity shares. The bonus shares will be issued in the ratio of 1:5, which means that each shareholder will be given one additional fully paid share for every five equity shares they hold on the record date.

“The Board considered and recommended a bonus issue in the ratio of 1:5 ie 1 (One) New Bonus Equity Share for every 5 (Five) existing fully paid up equity shares of Rs 1 each, subject to the approval of the members and any statutory and regulatory approvals other applicable,” according to an exchange filing.

The bonus shares will be credited to those members holding the equity shares on record date, ie 17th November, 2023.

In addition, the firm has also announced plans to pay a 1 percent dividend. The record date for the payment of the interim dividend is set as November 17 (Friday), according to a statement from the company on BSE.

The small cap stock deals in the paper industry. Its shares have returned around 600 percent in two years.

In particular, the Modi government over the past nine years launched a series of initiatives, including the establishment of packaging parks, to encourage the growth of the packaging industry. The growing demand for environmentally friendly packaging solutions has contributed significantly to the overall growth of MSMEs and the industry.

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