May 18 (Lagos) - Subject to shareholders approval, Prestige Assurance Plc (
PRESTIGE ) will give bonus issue of 41 new shares of 100 current shares to its shareholders as on May 23 2018.
Shares of
PRESTIGE are lingering near all time lows currently below the 50 Kobo level.
The company will increase its shares outstanding to 6 billion units post this bonus issue.
Shareholders would have preferred a dividend over bonus because this makes future EPS weaker but the current return will be good if the stock price does not fall down further.
PRESTIGE is subsidiary of India's largest Insurance Company - The New India Assurance Co. Ltd based in Mumbai, India and operating in 28 countries.
reporting for easykobo.com on Friday, May 18 2018 from Lagos, Nigeria