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The board of Avadh Sugar & Energy on Monday recommended the issue of bonus shares by capitalisation of capital redemption reserve in the ratio of 1:1. The decision is subject to shareholders’ approval through postal ballot, the company said. The record date for reckoning eligible shareholders entitled to receive the bonus shares will be communicated later, it said. Besides, the board of Avadh Sugar also recommended dividend of ₹3 a share of ₹10 each (pre-bonus issue) for the year ended March 31, 2019. Shares of Avadh Sugar fell 3.9 per cent at ₹477.25 on the BSE.
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