Shares of Infosys slipped below Rs 1,000 mark and ended flat as the stock turned ex-bonus today.
The company had announced 1:1 equity bonus in April, following which shareholders now have twice the number of shares they had earlier, but the price of each scrip halved with the decision taking effect.
Bonus shares are free shares given to the existing shareholders of a company.
The stock ended 0.28 per cent higher at Rs 991.10 on the BSE. During the day, it went up by 1 per cent to Rs 998.85 after the price adjustment.
On the NSE, it closed at Rs 990.45 (after adjustment) as against Rs 1,975.05 before the company went ex-bonus.
With reference to earlier announcement dated April 24, 2015 regarding final dividend and AGM, Infosys had informed BSE earlier this month that the closure date for the purposes of annual general meeting, final dividend and bonus issue is June 17, 2015.
Infosys Board of Directors at their meeting on April 24, 2015, recommended a final dividend of Rs 29.50 per equity share (equivalent to Rs 14.75 per share after 1:1 bonus issue) for the financial year ended March 31, 2015).
