Godfrey Phillips to consider 1:2 bonus share in September AGM

Godfrey Phillips bonus share: Godfrey Phillips, the leading tobacco manufacturer and a key player in the domestic cigarette industry, has announced that the board of the company which is set to meet for its Annual General Meeting on September 20, will consider and recommend the shareholders to issue bonus shares to its stakeholders in the ration of 2:1, according to a BSE filing. 

The company's board would consider and recommend to shareholders, for their nod, the issue of bonus shares by capitalisation of reserves.

“...We wish to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, 20th September 2024 to consider and recommend to the shareholders for their approval, issue of bonus shares in the ratio of 2:1 i.e. 2 (Two) new fully paid-up Equity Shares of Rs. 2/- each for every 1 (One) existing fully paid-up Equity Share of Rs. 2/- each, to the Equity Shareholders of the Company by capitalisation of reserves.” the company wrote in the exchange filing. 

Godfrey Phillips India is one of the largest cigarette manufacturers in India, operating under the Modi Enterprises conglomerate. Established in 1936, the company is well-known for its cigarette brands like Four Square, Red & White, and Cavanders. 

Besides tobacco products, Godfrey Phillips has diversified into tea, confectionery, and retail. It is the Indian licensee for Marlboro cigarettes, produced in partnership with Philip Morris International. Additionally, the company has a presence in the chewing products market with pan masala and mouth fresheners. 

Godfrey Phillips is also involved in the distribution and marketing of branded products through its pan-India network.