City Union Bank has set June 12 as the record date for its bonus issue in the ratio of 1:3, making today, June 11, the last day for interested investors to buy the bank's shares to qualify for the bonus shares.
Only shareholders who hold City Union Bank shares in their demat accounts as of Friday will be eligible to receive the bonus shares. Due to SEBI's T+1 settlement norm, investors must purchase the company's shares at least one trading day before the record date so they are credited to their demat accounts by that date and qualify for the corporate action. This effectively makes today the final day for investors to buy the shares to be eligible for the bonus issue.
