State-run Power Finance Corporation on Monday announced that the company will hold a board meet on August 11 to consider a bonus issue of equity shares.

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PFC had last announced a 1:1 bonus issue in August 2016.

The leading financial institution in the power sector also announced that at the Board meeting scheduled on August 11, 2023, the company will consider an interim dividend proposal.

The state-owned company’s board will also consider the financial results, both Standalone and Consolidated, for the quarter ending on June 30, 2023.

As a result, Power Finance Corporation’s trading window for trading in the company’s equity shares and listed debt securities was closed starting July 1, 2023, and shall continue to remain closed until further orders, the company said.

Earlier in March, the company had announced that its board approved the proposal for raising resources in the financial year 2023-24 through bonds, term loans, and commercial paper, among others, from domestic and international markets.

The board approved borrowing up to Rs 80,000 crore in the current financial year excluding funds raised under extra budgetary resources (EBR).

Shares of Power Finance Corporation gained 0.7 percent to Rs 268.80, after cooling off from the day's high. The stock has gained nearly 80 percent on a year-to-date basis and has more than doubled, gaining as much as 130 percent over the last 12 months.