Wipro declares 1:1 Bonus shares, marking 14th issuance in company history

Wipro declares 1:1 Bonus shares, marking 14th issuance in company history

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Wipro Ltd., the renowned technology services provider, has announced a significant move for its shareholders: a 1:1 bonus share issue. This means that for every share held as of the record date, shareholders will receive one additional share free of charge. The exact record date will be announced later.

This marks the first bonus issue from Wipro since 2019 when the company issued one free share for every three shares held. With this latest announcement, Wipro will be granting bonus shares for the 14th time in its history, reinforcing its status as a leading company in this regard.

Historically, Wipro has issued bonus shares 13 times since becoming a public entity, with the most recent issuances occurring in 1971, 1981, 1985, 1987, 1989, 1992, 1995, 1997, 2004, 2005, 2010, 2017, and 2019. As a result, it holds the record among both Nifty and non-Nifty companies for the highest number of bonus shares issued.

The announcement is particularly positive for retail shareholders, of whom Wipro had approximately 21.92 lakh, holding authorized share capital of less than ₹2 lakh as of the September quarter.

Following the announcement, Wipro’s shares closed down 0.65% at ₹528.65 on Thursday. The stock has seen a 4% decline over the past month but has gained 11.6% year-to-date.

Wipro Ltd. is set to announce its latest bonus share issuance, marking the company’s sixth bonus in the last 20 years. The last time Wipro rewarded its investors with bonus shares was in March 2019, when it issued shares at a 1:3 ratio. Prior to that, the company issued a 1:1 bonus in June 2017, a 2:3 bonus in June 2010, and another 1:1 bonus in August 2005.

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