CDSL to consider bonus share issue on July 2, stock surges 16%
CDSL Share Price: The record date for CDSL's bonus is yet to be determined. Based on the available information, this will mark the first instance of the company issuing bonus shares to its shareholders.
Central Depository Services () shares surged 15.9% on the NSE today to reach a new 52-week high of Rs 2,324.80, following the board's announcement of a meeting on July 2 to consider issuing bonus shares to eligible shareholders.“A meeting of the Board of Directors of Central Depository Services (India) Limited (CDSL/Company) is scheduled to be held on Tuesday, July 02, 2024, inter-alia, to consider and approve the proposal for issuance of Bonus Shares, if any, subject to the approval of the shareholders of the company,” said the company board in a filing to the exchanges.
The record date for this purpose has yet to be determined and will be communicated at a later date.
Based on the available information, this will mark the first instance of the company issuing bonus shares to its shareholders.
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In its Q4FY24 results, the company's board announced a final dividend of Rs 19 per share along with a special dividend of Rs 3 per share, commemorating the 25-year silver jubilee celebrations of CDSL.
CDSL reported an 86% increase in its consolidated Profit After Tax (PAT) to Rs 267 crore for Q4FY24, while its revenue surged by 93% to Rs 240.8 crore.
As Asia's only listed depository, CDSL maintains and provides services to over 11.56 crore investors as of March 2024. During the fiscal year 2023-24, the company witnessed the opening of more than 3.26 crore new demat accounts, with a record 1.09 crore registrations in Q4 FY 23-24 alone. This quarterly figure marks the highest number of demat account registrations in CDSL's history.
Source: Stocks-Markets-Economic Times
