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Wipro Sets 3 December as Record Date for 1:1 Bonus Share Issue

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Synopsis:

Wipro sets December 3, 2024, as the record date for a 1:1 bonus share issue. Eligible shareholders will receive one bonus share for every share held, impacting the Wipro share price.

Wipro news today

Wipro has fixed Tuesday, 3 December 2024, as the record date to determine eligible shareholders for its 1:1 bonus share issue. This means that shareholders holding equity shares as of the record date will receive one fully paid bonus share for every share they own. The bonus share issuance aims to improve share liquidity and expand affordability for investors, creating significant market interest in the Wipro share price.

WIPRO LTD

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56810.84 (1.94 %)

Updated - 22 November 2024
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Key Takeaways:

  • Record Date: 3 December 2024.

  • Bonus Ratio: 1:1, offering one bonus share per existing equity share.

  • Credit Date: Bonus shares will be credited by 15 December 2024.

  • Previous Bonus: Last bonus issued in 2019 with a 3:1 ratio.

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Details Of The Bonus Share Issue

Wipro’s decision aligns with its consistent history of rewarding shareholders. Bonus shares are an effective method to enhance share liquidity and make stocks more accessible to retail investors. The shares are fully paid and issued at no cost to the eligible shareholders. The Board of Directors approved this issuance during its October meeting.

Wipro's Bonus Share History

Year

Bonus Ratio

Remarks

1971

1:1

First bonus issue

2019

3:1

Most recent issue

Multiple (1981-1996)

Varies

Six issues during this period

2004, 2005, 2010, 2017

Varies

Additional bonus share distributions

Wipro has consistently rewarded shareholders over the decades, issuing bonuses several times since 1971. In comparison, Infosys and TCS have issued bonus shares eight and three times, respectively.

Also read: SJVN and Rajasthan Government Partner to Boost Renewable Energy

Impact On Wipro Share Price

The announcement of the record date and bonus issue is expected to influence the Wipro share price in the coming weeks. Bonus shares are typically viewed positively by the market, as they reflect a company’s confidence in its financial stability and growth trajectory.

Wipro’s 1:1 bonus share issue underlines its commitment to rewarding shareholders and enhancing share liquidity. With the record date set for 3 December 2024 and crediting expected by 15 December 2024, investors are likely to keep a close watch on the Wipro share price.

Also read: Kenya Cancels $700 Mn Deal with Adani Group for Power Projects

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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