Bonus Shares Alert: Dr Lal announces first ever free share issue, declares dividend; Check details

Shares of Dr. Lal Pathlabs Ltd. are currently trading little changed amidst volatile moves on Friday, October 31, after its results announcement for the September quarter.Along with the results, the board also announced a bonus issue of shares. The company will issue one bonus share for every one share held by shareholders as on the record date.

In addition to the bonus, the board also announced that it has approved a dividend payout of ₹7 per share.

This is the first instance that Dr. Lal Pathlabs will be issuing bonus shares to its shareholders.While Dr. Lal had never considered a bonus or a stock split before this one, it has regularly paid dividends to its shareholders. Since July 2016, Dr. Lal has paid dividends worth nearly ₹133 per share to its shareholders, including ₹24 per share since November last year.

Record date for the interim dividend has been fixed as November 7. Record date for the bonus issue is yet to be announced.

As of the September quarter shareholding pattern uploaded on the BSE, Dr. Lal Pathlabs had over 1.05 lakh retail shareholders, or those with an authorised share capital of up to ₹2 lakh, who owned a stake in the company. Promoter shareholding stands at 53.21%.

Shares of Dr. Lal Pathlabs Ltd. are currently trading flat at ₹3,090.6. The stock has remained flat over the course of the year, as well as the last one month.