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Wipro has declared its Q2 financial results.
In a move welcomed by investors, Wipro’s board of directors approved a bonus share issue
Wipro Bonus Shares: In a move welcomed by investors, Wipro’s board of directors approved a bonus share issue alongside the release of its second-quarter results on Thursday. The IT firm on October 17 announced a 21% rise in net profit at Rs 3,209 crore for the September quarter as against Rs 2,646 crore in the year-ago period. It also announced bonus shares in proportion of 1:1.
This marks the company’s first bonus share issuance since 2019 and the 14th in its history, solidifying its position as the most frequent issuer of bonus shares among Nifty and Non-Nifty constituents.
It has issued bonus shares 13 times to its shareholders. Wipro has issued bonuses to shareholders in 1971, 1981, 1985, 1987, 1989, 1992, 1995, 1997, 2004, 2005, 2010, 2017, and 2019.
Wipro Bonus Share Credit Date
Wipro said, “Within 2 months from the date of Board approval shares would be credited/dispatched i.e., December 15, 2024.”
The credit date refers to the day when bonus shares are deposited into the demat accounts of eligible shareholders.
Wipro’s bonus issue of shares is good news for retail shareholders. As of the September quarter, the company had 21.92 lakh small shareholders, those with authorised share capital of less than Rs 2 lakh.
