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Sonata Software announces Interim Dividend and Bonus Issue

Oct 26, 2023

By: BlinkX Research Team

Sonata Software has made significant announcements following its Board of Directors meeting held today. The decisions made during this meeting are bound to have a notable impact on the company and its shareholders.

Interim Dividend Declaration: 
The Board declared an Interim Dividend of Rs. 7 per share for the financial year 2023-24. Shareholders on record as of November 7, 2023, will be eligible for this dividend, which will be disbursed on or after November 22, 2023. 

Bonus Issue Recommendation: 
Sonata Software also made a decision to recommend a bonus issue of one equity share for every one equity share held by the company's shareholders as of the record date. This bonus issue is subject to approval by shareholders through a Postal Ballot, as well as other applicable statutory and regulatory approvals.

Authorized Share Capital Increase: 
The Board approved a recommendation to increase the Authorized Share Capital of the Company from the existing Rs. 15 crores to Rs. 50 crores. This adjustment correlates with the issuance of Bonus Shares and will be subject to approval by shareholders obtained through a Postal Ballot.