Axita Cotton Ltd Board Approved 1:3 Bonus Issue of share; Stocks Recorded at 2.56%
Axita Cotton Ltd announces stock bonus for shareholders as a testament to strong financial performance
New Delhi (India), November 29: The Board of Directors of AXITA COTTON LIMITED in its meeting held on November 23, 2023 Approved issuance of 1 (One) bonus share of ₹1/- each for existing 3 (Three) equity shares of ₹1/- each fully paid up, subject to the shareholders’ approval.
Under the proposed stock bonus, each shareholder of record as of record date will be entitled to receive one (1) additional share of common stock for every three (3) shares of common stock held on that date.
The Board of Directors believes that the stock bonus is a testament to the company's strong financial performance and its commitment to rewarding shareholders for their investment.
The company has a history of delivering robust financial performance and consistently rewarding its shareholders through dividends and other value-enhancing initiatives. This latest stock bonus announcement further reinforces AXITA COTTON LTD’s dedication to delivering superior returns to its shareholders. The company has a history of returning value to shareholders through dividends and share repurchases, and the stock bonus is another example of this commitment.
Axita Cotton Limited has issued two bonus issues in the past. The first bonus issue was announced on December 26, 2019 in ratio of 1:1 and the second bonus issue was announced on January 11, 2022 in ratio of 2:1.
Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same.