Reliance Industries Limited on Thursday brought a smile on the faces of millions of its shareholders after announcing a bonus share issue, the first by the corporate entity in 12 years.
There was a double delight for the shareholders as the diversified conglomerate announced a dividend of Rs 13 a share. Announcing the 1:1 bonus share, RIL Chairman and Managing Director Mukesh Ambani said this is the country's largest bonus issue.
The last time India's largest private sector company gave bonus shares to its shareholders was 12 years ago. As many as 39 companies have this year announced bonus shares. Indian Oil Corp (IOC) had announced a 1:1 bonus issue last month.