Dividends are attractive for investors who are looking to generate income. They see dividends as a sign that a company’s management has positive expectations for its future earnings. Here are two companies that have recently declared dividends:
Wendt (India) Limited
The Murugappa group company in its board meeting dated January 18, 2023, declared an interim dividend of 300%, i.e., ₹ 30 per equity share (face value ₹ 10). The record date for determining the members eligible to receive the dividend is January 31, 2023. The dividend will be credited by Tuesday, February 14, 2023.
Wendt (India) is a leading manufacturer of super abrasives, machining tools, and precision components and is a preferred supplier for many industries. It is a joint venture between 3M (via Wendt GmbH) and Carborundum Universal (Murugappa Group). Its shares were trading at ₹ 8486.50 on Monday apiece and it is a small-cap company with a market capitalization of ₹ 1,668 crores. Wendt has a dividend yield of 0.63%.
The company’s board on Friday approved an interim dividend of ₹ 7 per equity share, i.e., 140% of the face value of ₹ 5.00 each. The record date for determining the eligibility of shareholders for receiving the dividend is fixed as Wednesday, February 01, 2023.
Mastek provides vertically-focused enterprise technology solutions. With a history of more than 40 years in the IT sector, it has evolved from an IT solutions provider to a digital transformation partner. Its shares were trading at ₹ 1,611.10 apiece and it is a small-cap company with a market capitalization of ₹ 4,966 crores. Mastek has a dividend yield of 0.80%.
Written by Simran Bafna
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