Infosys gets nod for 1:1 bonus issue
Infosys Technologies Ltd has received shareholders' approval for issuing bonus shares in the ratio of 1:1.india Updated: Jun 12, 2006 14:54 IST
IT major Infosys Technologies Ltd has received shareholders' approval for issuing bonus shares in the ratio of 1:1.
Following the proposal by the board of directors for issuing bonus shares in 1:1 ratio, the AGM held recently gave approval for the same, where one bonus share would be issued for every share held, Infosys informed the Bombay Stock Exchange.
The bonus issue comes after a gap of two years. The company had previously issued bonus shares in 3:1 ratio in 2004.
The leading software services provider had posted a consolidated net profit of Rs 673 crore for the fourth quarter, up 20.60 per cent compared to Rs 558 crore a year ago, reflecting an increasing growth in orders from customers.
The board had recommended a Silver Jubilee special dividend of Rs 30 per share on Rs 5 per share (600 per cent) in April and proposed a final dividend of Rs 8.50 per share of Rs 5 (170 per cent) as well.