Dividend stocks: Wonder Electricals shares to trade ex-dividend today
Dividend stocks: Shares of Wonder Electricals Ltd will be in focus when the stock market opens on March 14 (Thursday).
The Board of Directors of the company has declared interim dividend for the eligible shareholders. The record date by the company to ascertain the eligibility of shareholders for the interim dividend has been fixed on March 14.
Interim Dividend
Wonder Electricals: The company has declared an interim dividend of ₹1.00 per equity share.
In a stock exchange filing, Wonder Electricals said that the Board of Directors “Considered and approved the First interim dividend at the rate of 10% ( ₹1.00/- per equity share) on the face value of paid-up equity shares of ₹10/- each for the financial year 2023-24. The interim dividend shall be paid/ dispatched within the period as stipulated in the Companies Act, 2013.”
Shares of Wonder Electricals Ltd will trade ex-dividend on Thursday.
Wonder Electricals Ltd stock closed at ₹467.60, down 5.00%, on Wednesday.
Wonder Electricals had reported a net profit at ₹2.99 crore, up 187.50 per cent in the quarter ended December 31, 2023 of fiscal year 2024 (FY24), as against ₹1.04 crore during the same quarter previous fiscal year.
Its sales rose 36.91 per cent to ₹131.16 crore in the December quarter of FY24 as against ₹95.80 crore a year ago.
What is an interim dividend?
An interim dividend is typically one of the two dividends paid by a company that is providing shareholders with income on a semi-annual basis. It is paid out monthly or quarterly.
The interim dividend is generally given out ahead of a company’s annual general meeting (AGM) and the release of the final financial statements.
The company’s Board of Directors declare the interim dividend, but the final approval is given by the shareholders.
Dividend payments allow shareholders to benefit from earnings growth through both interim and final dividends as well as share price appreciation.
An interim dividends can be paid out in cash and stock.
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Published: 14 Mar 2024, 06:19 AM IST
