The shareholders of Hikal Ltd have approved the issue of bonus shares in the ratio of one equity share for every two equity shares held.
The shareholders also approved a final dividend of 25% -- making the total dividend for the year to 65% -- at the annual general meeting held recently.
Hikal has fixed October 1 as record date for the issue of bonus shares, the company said in a release in Mumbai on Wednesday.
The company also appointed Sameer Hiremath as its executive director, the release said.
Hikal is a key player in the fine chemical sector and had acquired a pharma facility in Bangalore, it added.
The company has set up a new plant, which has already received the Australian TGA approval, is awaiting the United States Food and Drug Administration's approval, Baba Kalyani, chairman, Hikal, said.