RIL announces 1:1 bonus and 130 pc dividend
Reliance Industries, headed by billionaire Mukesh Ambani, founded by Dhirubhai Ambani, credited for drawing retail investors to stock markets in the 1970s. RIL plans a 1 for 1 bonus share issue for every share held and at the same time the board has also approved a dividend of Rs 13 per fully paid-up equity share of Rs 10.
This comes as a big surprise to the shareholders of Reliance Industries and it is a move by RIL to win back investor
confidence as company’s stock has fallen nearly 4 percent since it raised $660 million from treasury stock sale announced on 17th Sept 09.
The company had last announced a bonus issue way back in 1997, so this is good move in the interest of investors. The announcement can act as a trigger point for the stock (RIL) which was mired in controversy with RNRL.
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