Commercial vehicle maker Ashok Leyland today said its board had given its nod to issue bonus shares of Re 1 each for every equity share of Re 1.
In a filing to the Bombay Stock Exchange (BSE), the company said its board "has resolved to issue bonus shares by way of capitalisation of securities premium aggregating Rs 13,303.38 lakh in the ratio of one equity share of Re 1 each for every one equity share of Re 1".
The company, however, said the bonus shares will not be eligible for dividend for 2010-11.
The shares of the company today closed 0.39% down at Rs 50.45 apiece on the BSE.