Mon Dec 02 12:44:08 UTC 2024: ## Wipro Announces 14th Bonus Share Issue, Continuing its Generous Shareholder Reward History
**Mumbai, India** – IT giant Wipro announced its 14th bonus share issue, marking another milestone in its long history of rewarding shareholders. This is the first bonus issue since 2019, following a similar offering then, at a 1:3 ratio. The company, often dubbed India’s “bonus giant,” has a track record of distributing bonus shares thirteen times prior to this.
The announcement comes amidst mixed Q2 2024 results. While revenue saw a slight year-over-year decrease of 0.9%, profits increased significantly by 21.3%. Despite the recent revenue dip, Wipro’s strong financial health, including a robust cash position of Rs 408.1 billion, underpins its ability to continue rewarding investors. The company also recently secured a significant US$100 million contract extension with Italy’s Marelli for cloud infrastructure modernization.
Wipro’s share price has shown healthy growth, rallying 21% year-to-date and 42% in the past year. The stock recently hit a 52-week high of Rs 596.
This latest bonus share issuance underlines Wipro’s commitment to its shareholders and its continued growth trajectory, despite recent market fluctuations. However, Equitymaster, the source of this information, emphasizes that this is not a stock recommendation and advises readers to conduct their own research before making any investment decisions.
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