Hexaware Technologies, the Mumbai-based information technology services company, today announced a 1:1 bonus share issue and a 50 per cent special interim dividend to celebrate its 20th anniversary.
Bonus shares shall be credited on or before March 9. Consequent to the proposed issuance, the issued equity shares would increase to Rs 29 crore and the equity share capital to Rs 58 crore.
The board of directors also declared a special interim dividend of Rs 1 per share (50 per cent) on equity shares of Rs 2 each. The record date for the same has been fixed as January 21.
“The bonus issue is to reward shareholders on completion of 20 years. The bonus is more relevant, as we are quite positive about growth and margin expansion, which allows us to offer a consistent stream of healthy dividend outflows even on an expanded share capital base,” said Atul Nishar, chairman.
The stock closed at Rs 118.35 per share, marginally up from the previous close. During the day’s trading, it touched a high of Rs 121.9, up 3.7 per cent from the previous close.
