Infosys Ltd. Friday declared 1.1 bonus issue of equity shares to increase liquidity of its blue-chip stock and expand the retail shareholder base on the bourses.
In a regulatory filing on the Bombay Stock Exchange (BSE), the IT bellwether said it would give one bonus share for every share held by investors to increase the volume of shares (liquidity) in the stock market for trading and help in expanding the retail shareholder base.
"We are giving bonus shares after 15 years to our investors in India and 1:1 stock dividend of American Depositary Shares (ADS) to increase liquidity on the bourses and the retail shareholder base," Infosys chief financial officer Rajiv Bansal told IANS here.
The Rs.5 per share of the blue scrip shot up 6.16 percent to Rs.3,870 on the BSE within an hour of trading commencing Friday from opening rate of Rs.3,685 and Thursday's closing rate of Rs.3,645.55.
The global software major also declared an interim dividend of Rs.30 per share for the first half (April-September) of this fiscal, which is six times (600 percent) the par value of its Rs.5 per share.
