Hinduja Global Solutions (HGS), the business process management arm of Hinduja Group, today announced third interim dividend of ₹150 per share for the current financial year FY22. The company has fixed January 18 as the record date for payment of this dividend.
Dividend will be paid to eligible shareholders and members on or before January 27.
In addition, the company's board has also approved the recommendation to issue fresh bonus shares in the ratio of 1:1, which means that for every share he has in the company, investors will get one additional share.
A company issues bonus shares to its shareholders with the aim of increasing the liquidity of the stock as well as reducing its stock price to make it economical for investors. Bonus shares are fully paid-up additional shares issued by a company to its existing shareholders.
When a firm issues bonus shares, its shareholders do not incur any additional costs to receive them. The number of bonus shares you will receive depends on the number of shares in the firm that you already hold.
All the shareholders who hold shares of the firm before the ex-date fixed by the firm are eligible for bonus shares.
Hinduja Global Solutions has also completed the sale of its healthcare business, a wholly owned subsidiary of Betaine BV, to affiliated funds from Bering Private Equity Asia (BPEA), one of Asia's largest private alternative investment firms .
The transaction was based on an enterprise value of $1,200 million, subject to closing adjustments, and resulted in an inflow of $1,088 million.
As part of the disinvestment, HGS has transferred all customer contracts and assets, including infrastructure related to the healthcare business, to the buyer. HGS's more than 29,000 employees in four geographic regions - the US, India, Jamaica and the Philippines - will join the new organization effective January 6.
As part of the disinvestment, HGS has transferred all customer contracts and assets, including infrastructure related to the healthcare business, to the buyer. HGS's more than 29,000 employees in four geographic regions - the US, India, Jamaica and the Philippines - will join the new organization effective January 6.