However, the stock is now off highs, trading near day’s low at ₹9,275.05.
Bajaj Finance will split its shares with a face value of ₹2 each. In addition, it will evaluate a proposal to issue bonus shares.
A stock split is generally considered by a company to increase its outstanding shares, and also improve trading liquidity by making the stock more affordable to its shareholders.
Along with a stock split, the company will also announce a special (interim) dividend for the financial year 2024-25.
This is not the first instance that the company has decided to reward shareholders either through a dividend, a bonus share or a stock split.
In 2016, the company announced a bonus issue of shares in the 1:1 ratio, meaning shareholders received one free share for every one share that they held.
The same year, the company decided to split equity shares of face value ₹10 each into shares of face value of ₹2 apiece.
Bajaj Finance has also declared 23 dividends since July 10, 2003. In the past 12 months, the company has declared an equity dividend amounting to ₹36 per share.
Shares of Bajaj Finance are witnessing some profit booking from higher levels, currently trading 0.34% lower on the index at ₹9,295.
