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BANGALORE: Shareholders of Cranes Software International Ltd at the annual general meeting approved the company's proposal to issue 1:1 bonus shares, stock split, dividend and a preferential issue.

The shareholders also approved a dividend of Rs 5 per share, including regular dividend of Rs 2 per share and special dividend of Rs 3 per share, the company said in a notice to the Bombay stock exchange.

The AGM also passed the resolution to increase the authorised share capital to Rs 35 crore from Rs 22 crore.

Cranes is issuing 12 lakh equity shares on preferential basis and proposes to split its equity shares of Rs 10 each into five shares of Rs 2 each. The company will issue equity shares of Rs 10 each on a preferential basis, at a price not less than Rs 900 per share, up to 8 lakh equity shares to the promoters and up to 4 lakh equity shares to strategic investors, Spice One Colonizers Pvt Ltd, it added.

Following the preferential issue, the promoters' holding will increase to 38 per cent from 34.6 per cent.

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