A corporate action is an event initiated by a public 
company that affects the securities (equity or debt) issued 
by the company. Some corporate actions such as a dividend 
(for equity securities) or coupon payment (for debt 
securities (bonds)) may have a direct financial impact on 
the shareholders or bondholders; another example is a call 
(early redemption) of a debt security. Other corporate 
actions such as stock split may have an indirect impact, as 
the increased liquidity of shares may cause the price of 
the stock to rise. Some corporate actions such as name 
change have no direct financial impact on the shareholders

Purpose:1).Return profits to shareholders 
2).Influence the share price 
3).Corporate Restructuring 
Types:1).Mandatory Corporate Action(ex: its includes stock 
splits, mergers, and spinoffs) 2).Voluntary Corporate(it 
includes rights issue, making buyback offers to the share 
holders while delisting the company from the stock exchange 
etc.)