Berger Paints to Declare Bonus Shares Alongside Q1 Results 2023 in August

Rajesh
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Kolkata-based paint manufacturer, Berger Paints Ltd, is set to bring good news to its shareholders this month. The company's board of directors has announced that they will be considering and approving bonus shares for the shareholders in their upcoming meeting on 9th August 2023. The decision to issue bonus shares will be taken while discussing the financial results for the first quarter of 2023.

Berger Paints to Declare Bonus Shares Alongside Q1 Results 2023 in August

Berger Paints informed the Indian stock market bourses about this development, stating, "This is in continuation to our letter dated 1st August 2023, intimating you that the Board of Directors of the Company may also consider a proposal for the issue of 'Bonus Shares' by capitalisation of reserves, subject to approval of the shareholders of the Company, in the forthcoming meeting of the Board of Directors scheduled for 9th August 2023, at 12 noon. This meeting is called for considering and approving the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 30th June 2023."

Berger Paints has a history of declaring bonus shares, and this move is in line with their previous practices. In 2016, the company declared bonus shares in a 2:5 ratio, meaning that two bonus shares were issued for every five shares held by eligible shareholders. The ex-bonus trading for this issuance took place on 15th July 2016.

The announcement of bonus shares and Q1 results had an immediate impact on Berger Paints' share price. As of the time of writing this news, the company's share price on the NSE was around ₹700 apiece, representing a significant increase of approximately 2.50% from its Monday closing price of ₹682.40 per share.

Investors and shareholders of Berger Paints are eagerly awaiting the forthcoming meeting on 9th August 2023 to witness the finalization of the bonus shares and the disclosure of the company's Q1 results for the financial year 2023-24.

Disclaimer: The information and views presented above are based on data from individual analysts or broking companies and not of Tradingtalk. Investors are advised to seek advice from certified experts before making any investment decisions.

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