From Bank of Maharashtra to Trent 8 stocks turning ex-dividend this week: Check full list
Bank of Maharashtra, GE Shipping, Manappuram Finance, Rossari, Kennametal, Trent, Kansai Nerolac, and Pearl Global Industries are among the stocks that will trade ex-dividend this week on Dalal Street. When a corporation announces a dividend, it establishes a record date and an ex-dividend date, and investors who own the stock before the ex-dividend date are eligible to receive the dividend. As a result, “ex-dividend” relates to the period of time when a stock trades without the amount of upcoming dividend.
Bank of Maharashtra
The Board of Directors of the PSU lender have recommended dividend of Rs. 1.30/- (ie., 13%) per share on equity shares for the FY 2022-23. In order to determine the eligibility of the shareholders for the purpose of dividend, the bank has fixed 23rd May, 2023 as the record date hence the stock will trade ex-dividend on the same due to T+1 settlement cycle of India.
“Dividend, if declared at the AGM shall be paid to those shareholders, whose names appear in the Bank’s Register of Members/ Register of Beneficial Owners maintained by the Depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited as at the close of business hours on Tuesday, 23rd May, 2023,” said Bank of Maharashtra in a stock exchange filing.
Great Eastern Shipping Company
The Board of Directors has announced a fourth interim dividend of Rs. 9/- per share to the company’s equity shareholders for the fiscal year ending March 31, 2023. The ‘record date’ set for determining which shareholders are entitled for an interim dividend is May 24, 2023. On or after June 6, 2023, the interim dividend will be paid to shareholders. On May 24, the shares will go ex-dividend.
Manappuram Finance
The company announced an interim dividend of Rs.0.75 per equity share with a face value of Rs.2. The record date for determining the entitlement to interim dividend among shareholders for the purpose of dividend is May 24, 2023. The shares will go ex-dividend on the same day.
Rossari Biotech
The Board has recommended a final dividend of 25% (i.e. Rs. 0.50/- per share) on equity shares with a face value of Rs. 2/- each for the fiscal year ending March 31, 2023, subject to shareholders’ approval at the firm’s upcoming Annual General Meeting (“AGM”). Wednesday, May 24th 2023 has been fixed as the record date and the stock will traded ex-dividend on the same date.
Kennametal India
The Board of Directors have “Declared an Interim Dividend of INR 20/- per equity share of INR 10/- each (200%) for the financial year 2022-23 and fixed the Record Date for the purpose of ascertaining the eligibility of shareholders for the payment of Interim Dividend as May 25, 2023,” said Kennametal India in a stock exchange filing. The stock will go ex-dividend on the same day.
Trent
The Board of Directors of the company have recommended a dividend of 220% i.e., Rs. 2.20 per share of Re. 1/- each, which shall be paid after the Annual General Meeting, subject to the approval of shareholders.
“The dividend shall be paid on or after Friday, 16th June 2023 to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Thursday, 25th May 2023 which is the record date fixed for the purpose,” said Trent in a stock exchange filing.
The stock shall trade ex-dividend on 25th May.
Kansai Nerolac Paints
“The Board has recommended a dividend of 270% (Rs. 2.70 per share) for the financial year ended 31st March, 2023 as compared to the dividend of 225% (Rs. 2.25 per share) paid for the financial year ended 31st March, 2022. Dividend, when declared, will be payable on or after Friday, 30th June, 2023 to those Members whose names are registered in the Register of Members of the Company as on Thursday, 25th May, 2023 and to the Beneficiary holders as per the beneficiary list as on Thursday, 25th May, 2023 provided by National Securities Depository Limited and Central Depository Services (India) Limited,” said Kansai Nerolac in a stock exchange filing. The stock shall go ex-dividend on 25th May.
Pearl Global Industries
The Board of Directors have “Approved second interim dividend of Rs.5/- per equity share i.e. 50% on face value of Rs. 10/- each for the financial year 2022-23. Such Dividend will be paid within 30 days from the date of declaration to those Members entitled thereto. Record Date is fixed on Friday, May 26, 2023, for the purpose of determining entitlement of the Members for such Interim Dividend,” said Pearl Global Industries in a stock exchange filing.
The stock shall trade ex-dividend on 26th May.
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.
