The Hinduja Group’s business procedure management entity, Hinduja Global Solutions (HGS) today professed the third interim dividend of 150 per share for the current financial year FY22. The business has fixed 18 January as the record date for the payment of this dividend.
The dividend will be paid to the entitled shareholders and members on or before 27 January.
Further, the company's board has also accepted recommendation of issue of new bonus shares in the proportion of 1:1, which means for every one share he or she holds in the company, investors will get an additional share.
A company issues bonus stocks for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it reasonable for investors. Bonus shares are fully paid additional shares delivered by a company to its existing sharehlders
When a firm issues bonus shares, its shareholders do not have to experience any extra costs to get them. The number of bonus shares you receive be contingent on the number of shares of the firm you already hold.
All shareholders who own stocks of the firm before the ex-date, which is determined by the firm, are eligible for bonus shares.
Hinduja Global Solutions has also finished the sale of its healthcare services business to wholly-owned subsidiaries of Betaine BV, funds affiliated with Baring Private Equity Asia (BPEA), one of the largest private alternative investment firms in Asia.
The transaction was based on an enterprise value of $1,200 million, subject to closing adjustments, and resulted in inflows of $1,088 million.
As part of the divestment, HGS has transferred all client contracts and properties, including infrastructure connected to the healthcare services business, to the Buyer. Over 29,000 employees from HGS across four geographies – the US, India, Jamaica, and the Philippines – will join the new organization, effective January 6.
On Thursday, Hinduja Global Solutions shares slipped 0.20% to close at 3,584 on NSE. In the last one year, the scrip has risen 209.07%, giving multibagger returns to investors.
Explaining the strategic thought behind the deal, Y M Kale, Chairman, Hinduja Global Solutions, specified, “This divestiture helps HGS unlock value and makes the capital available to grow the business of all the other verticals and divisions. It is the right time to refresh HGS' value proposition and evolve as a comprehensive digital and CX services partner to clients."