8 stocks to turn ex-dividend; Oracle Financial, Coforge, others: Check list here
A total of 8 stocks will be in focus in the trading week ahead as they will turn ex-dividend. The record date of these stocks is the same as the ex-dividend dates. And hence, investors who are looking to avail of the dividend benefits will need to keep these important dates in check while trading. Dividends are a form of incentive that is distributed by a listed company from their profits in a respective financial year to shareholders.
These 8 stocks are Oracle Financial Services, Ramkrishna Forgings, Coforge, Laurus Labs, IndiaMART InterMESH, Kewal Kiran Clothing, 360 One Wam, and Aptus Value Housing Finance.
Generally, the ex-dividend date is the day when the price of the equity shares of a company gets adjusted for the dividend payout. A listed company usually proposes a record date to identify the names of eligible shareholders for dividend benefits. All the shareholders whose name appears in the company’s list by the end of the record date will be eligible to receive dividends.
Here are the 8 stocks that will turn ex-dividend in the trading week between May 8th to May 12th:
1. Oracle Financial Services Software: This IT services company will ex-dividend on May 9th. It will pay one of the highest dividends to shareholders to the tune of ₹225 per equity share. The stock price’s weekly gain is nearly 3% on BSE. Currently, the stock is at ₹3,667.20 apiece on BSE.
2. Ramkrishna Forging: This steel forgings manufacturer will be paying a dividend of ₹0.50 per equity share to shareholders. For which, the stock will turn ex-dividend on May 9th. On BSE, the company’s stock has recorded a weekly upside of 5% and is currently at ₹342.60 apiece.
3. Coforge: This IT major is set to pay a dividend benefit of ₹19 per share to its shareholders. For which, the company’s share price will turn ex-dividend on May 10. On BSE, the stock’s weekly performance has been a drop of 1.4% and is currently around ₹4,113.05 apiece.
4. Laurus Labs: Hyderabad-based multinational pharmaceutical and biotechnology company, Laurus Labs has announced a dividend of ₹1.20 per equity share, for which, the stock price will turn ex-dividend on May 10. Although, Laurus stock price closed at ₹315.40 apiece down by 1.2% on BSE on Friday, however, its weekly performance is a stellar upside of 9.10%.
5. IndiaMART InterMESH: Indian e-commerce company has announced a final dividend of ₹20 per share for FY23. To determine eligible shareholders for this dividend benefit, the company set a record date of May 11. The ex-dividend date is the same as the record date. On BSE, IndiaMart’s share price closed at ₹5,975.95 down by 1.09% on Friday. But in the trading week that ended on May 5, the stock rallied by whopping nearly 14%.
6. Kewal Kiran Clothing: Apparel manufacturer, Kewal Kiran will pay a dividend of ₹2 per equity share. For which, the stock will turn ex-dividend on May 11. The stock’s weekly gain is nearly a percent and is currently at ₹470.65 apiece on BSE.
7. 360 One Wam: IIFL Wealth Management which is traded in the name of 360 One Wam, will turn ex-dividend on May 12. The company has declared a dividend of ₹4 per share. In a week, the stock has gained by over 2.3% on BSE and is currently around ₹425.85 apiece.
8. Aptus Value Housing Finance: Home loan services provider is set to pay a dividend of ₹2 per equity share. In this regard, the stock price will turn ex-dividend on May 12. In the trading week of May 5, the stock price rose by over 7% on BSE and is currently around ₹257.35 apiece.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
