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NBCC Limited. will consider a bonus shares proposal on August 31, its first since 2017. The record date is set as September 6, 2024. The NBCC share price closed at ₹177.45, rising 0.83%, and has surged 248.97% over the past 12 months, delivering strong returns to investors.
State-run NBCC Limited has announced that its board will meet on August 31, 2024, to discuss a proposal for issuing bonus shares. This would mark the first time the company has considered such a proposal since 2017.
The last bonus shares issued by NBCC were in 2017 when the company declared a 1:2 bonus issue. In this arrangement, shareholders received one bonus share for every two shares they held. The company has not yet determined the record date for any potential bonus issue this time around.
Earlier this week, NBCC also fixed September 6, 2024, as the record date for a dividend payment of ₹0.63 per share. This dividend is contingent upon approval by shareholders at the upcoming Annual General Meeting (AGM) scheduled for September 25, 2024.
The NBCC share price has demonstrated strong performance over the past year. On Tuesday, the stock closed at ₹177.45, registering a modest gain of 0.83% for the day. However, the stock has delivered a remarkable return of 248.97% over the last 12 months, significantly enhancing investor wealth.
This year in May 2024, the company secured ₹400 crore projects in Kerala and Chhattisgarh from the Court Receiver of the Supreme Court of India. While the Chhattisgarh project is valued at ₹250 crore, the Kerala project is valued at ₹150 crore.
NBCC’s forthcoming board meeting to discuss the bonus shares proposal marks a significant development for shareholders. Investors keep a close eye on NBCC’s share price movement as they await the board's decision on August 31, which could further influence the stock.
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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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