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Shares of Federal Bank were trading higher by 3% at Rs 135 in early morning trades on the NSE after the private sector lender announced a bonus issue plan.
“The board of directors of the bank will be held on May 16, 2015, to consider the issue of bonus shares to the shareholders of the bank, subject to the approval of the shareholders at the Annual! General Meeting,” Federal Bank said in a statement.
Earlier, in 2004, Federal Bank issued bonus shares in the ratio of 2:1 i.e. two bonus shares for every one held.
The stock opened at Rs 135 and hit a high of Rs 137 on the NSE. A combined 521,334 shares changed hands on the counter till 0920 hours on the NSE and BSE.
“The board of directors of the bank will be held on May 16, 2015, to consider the issue of bonus shares to the shareholders of the bank, subject to the approval of the shareholders at the Annual! General Meeting,” Federal Bank said in a statement.
Earlier, in 2004, Federal Bank issued bonus shares in the ratio of 2:1 i.e. two bonus shares for every one held.
The stock opened at Rs 135 and hit a high of Rs 137 on the NSE. A combined 521,334 shares changed hands on the counter till 0920 hours on the NSE and BSE.
