Mumbai, Sept. 2: With the stock market ruling at its highest level so far, listed companies are trying to reward their shareholders with rich dividends and hefty bonus shares, and are also picking up the opportunity thrown up by the booming market to increase the liquidity of their stocks.

The boards of at least four companies ? Phoenix Mills, Taj GVK Hotels, Vishal Exports and Kirloskar Brothers ? have decided to increase the floating stocks of the respective companies in the market.

Phoenix Mills, one of the highest priced share in the stock market today, said it will split its shares with a face value of Rs 100 to 10 shares of Rs 10 each. In addition, the board has decided on a bumper bonus of four shares for every share held.

The board of Taj GVK Hotels has also approved splitting of shares in the ratio of 5:1, or one share into five shares.

Kirloskar Brothers also issued bonus shares in the proportion of two equity shares for every one held by shareholders.

The stock splits, coupled with bonus shares, is likely to increase the liquidity of these stocks.