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Wipro yet to decide on ADR stock dividend

Bengaluru: Indian software major Wipro Ltd on Monday clarified that it was yet to determine the bonus issue or stock dividend of its American Depository Receipts (ADRs) traded on the New York Stock Exchange (NYSE).

“We clarify to the market that the payable date and ex-dividend date for our ADRbonus issue, or stock dividend, are yet to be determined,” said the city-based IT major in a regulatory filing on the NYSE.

At NYSE, for ADR stock dividends or bonus issue, the ex-dividend date is set as the first business day after the stock dividend is paid, which is also after the record date.

“Therefore NYSE has not yet declared an ex-dividend date for our ADR programme. Once the payable date is declared, the NYSE will announce the ex-dividend date for the ADR,” it said in the fiiling.

IANS