The board meeting of Power Finance Corporation is scheduled to take place today, August 11th. In this meeting, the company will consider the proposal to issue bonus shares to its investors. Additionally, the company will announce its results for the June quarter.
On August 7th, Power Finance had provided information to the stock market regarding this matter. There is also a possibility of announcing the record date in this meeting.
Purpose and Method of Bonus Shares: It should be noted that companies issue bonus shares to enhance the liquidity of their stock and make it affordable for investors. Companies also take such steps to gain the trust of their investors. Bonus shares are additional shares given by a company to its existing shareholders as a fully paid extra share. When a firm issues bonus shares, shareholders don't have to pay any extra cost to acquire them. The number of bonus shares you receive depends on the number of existing shares of the company you already hold. All shareholders who possess the company's shares before the designated record date by the company are eligible for these additional shares.
Current Status of Power Finance Shares: On the fourth trading day of the week, the price of the company's shares was INR 267.10 on Thursday. It closed with a decline of 1.15% compared to the previous day. On August 8th, the share had touched a 52-week high of INR 276.75.