Bonus Alert: Another private lender is set to reward shareholders after seven years

Tamil Nadu-based private lender Karur Vysya Bank Ltd. has informed the exchanges that it will be holding a board meeting on Thursday, July 24, to consider a bonus issue of shares.

This will be the first time in the last seven years that the lender will be considering a bonus issue for its shareholders.

This will also be the fourth instance that the lender will be issuing bonus shares for its shareholders.

Previously, Karur Vysya Bank had rewarded shareholders in 2002, when it issued one bonus share for every one share held (1:1), 2010, where it issued two bonus shares for every five shares held (2:5), and in 2018, when it issued one bonus share for every ten shares held (1:10).

Record date for the bonus issue is yet to be disclosed.

July 24 will also be the day when Karur Vysya Bank will be considering results for the June quarter.

Shares of Karur Vysya Bank ended 0.8% lower on Friday at ₹268.3. The stock has ended close to its 52-week high of ₹277.5. The stock has risen 10% in the last one month and 19% in the last one year.