The board of Hindustan Petroleum Corporation Limited (HPCL) will meet on May 9, 2024, to discuss and authorize the distribution of bonus shares to shareholders.
Nevertheless, the corporation has not yet announced the record date for the issuance of bonus shares. The business will also release its financial statements for the quarter that concluded on March 31, 2024.
It had previously distributed bonus shares in 2016 at a 2:1 ratio, giving shareholders the right to obtain two extra shares for each share they owned. In addition, the business issued bonus shares in 2017 at a 1:2 ratio.
Bonus shares are issued by companies in order to make use of their accumulated free reserves, increase their earnings per share (EPS), increase their paid-up capital, and decrease their reserves all at the same time. These shares are given to shareholders at no additional cost, which is why they are frequently called complimentary or free shares.
Bonus shares are only available to buyers who buy the stock prior to the ex-date. Bonus shares will not be awarded to investors who purchase shares on or after the ex-date.
