Mahindra Lifespaces Developers Ltd (MLDL) has announced bonus shares in the ratio of 2:1 to its shareholders. The ex-bonus date for the issue of bonus shares is September 14.
The ex-dividend date for a stock is usually set one trading day before the record date. It means that if a person buys a stock on the ex-dividend date or after, he/she will not receive the next dividend payment. Instead, the seller will be eligible to get the dividend.
The Board of Directors of Mahindra Lifespaces Developers had in July recommended the bonus issue. As per the recommendation, shareholders of the company will get two fully paid-up shares of Rs 10 each for every 1 fully paid-up shares of Rs 10 each.
Mahindra Lifespaces Developers is the real estate and infrastructure development business of the Mahindra Group. It has developed properties in Mumbai, Pune, Nagpur, Ahmedabad, Delhi-NCR, Jaipur, Hyderabad, Chennai and Bengaluru.
The company has reported a consolidated net loss of Rs 14 crore for the first quarter as against Rs 20.50 crore loss a year ago. Total income rose to Rs 154.20 crore in the first quarter of this fiscal from Rs 22.09 crore in the corresponding period of the previous year.