41 companies reward shareholders with bonus in FY17

The number of companies that have announced a bonus issue in the first five months of financial year 2016-17 (FY17) has surpassed the last year's figure with 41 companies declaring a bonus, as compared to 30 companies that did so in the previous corresponding period. During entire previous financial year 2015-16 (FY16), total 59 companies announced bonus shares, data show.

These 41 companies, according to Capitaline Plus data, includes four central public sector enterprises (CPSEs) - Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC), Rural Electrification Corporation (REC) and Power Finance Corporation (PFC). In previous year, Bharat Electronics, was the sole CPSE that issued bonus shares during this period.

Except BPCL, the remaining four companies have announced their April - June (Q1) quarter earnings, and have reported 20% year-on-year growth in their aggregate net profit. On a sequential basis, the combined net profit of these companies has more than read more..

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