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Mumbai, May 29 JM Financial, an integrated financial services group, has announced a bonus issue of 3 new shares for every 2 shares held by its shareholders. The company is also going to split the face value of the shares of the company to Re 1 per share from existing Rs 10 per share.

In addition, the company has also declared a dividend of Rs 5 per share and a special dividend of Rs 20 per share for the shareholders of the company at a meeting of the board of directors held on May 28.

In its quarterly results, released on the same day, the company has registered a rise of 39 per cent in its consolidated net profit for the fourth quarter ended March 31, 2008, compared with the same quarter a year ago. The net profit was Rs 45.77 crore (Rs 33.09 crore).

The consolidated total income grew by 69 per cent to Rs 209.19 crore (Rs 123.51 crore) . The yearly net profit rose by 65 per cent to Rs 150.11 crore (Rs 90.86 crore).

The yearly consolidated revenue was up by 67 per cent to Rs 742.29 crore (Rs 444.05 crore). Mr Nimesh Kampani has been appointed as the Managing Director of the company from May 28. The stock price of JM Financial was up by 5 per cent on Thursday and closed at Rs 1,556.85.

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