Companies are showering investors with bonus shares, with nearly two dozen companies including blue-chip ones announcing bonus shares in this calendar year 2015.
As many as 20 companies have announced bonus issues in the last four-and-half months, with five of them making such announcements in the current month.
The bonus issuance almost doubled, compared to the previous year; 11 companies had made announcement during the same period in 2014, the CapitalinePlus data shows.
Today, Federal Bank and Relaxo Footwears announced bonus shares.
Relaxo Footwears board has recommended issue of bonus shares in the ratio of 1:1 or one share for every share held. Federal Bank said its board will meet on May 16, 2015, to consider the issue of bonus shares.
Last week, Kotak Mahindra Bank and Lancor Holdings announced bonus shares in the ratio of 1:1 each. Shivam Autotech board will meet on May 18, to consider issuance of bonus shares to equity shareholders of the company.
Infosys, HCL Technologies, Tech Mahindra and Persistent Systems from the information technology (IT) sector have recommended bonus shares to their existing shareholders. All these four companies announced bonus issue in the ratio of 1:1.
Aarti Drugs, VA Tech Wabag and Rai Saheb Rekhchand Mohota Spinning & Weaving Mills are among few others notable companies that recommended bonus shares during the current calendar year 2015.
Bonus shares basically reward existing shareholders. They are additional shares issues given without any cost to existing shareholders. A bonus issue adds to the total number of shares in the market.
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