‘Dividend’ is generally defined as the company’s distribution of its earnings to its shareholders and the same is determined by the Board of Directors. The dividends are often been distributed once in a quarter and the mode of payment could be in the form of cash or reinvestment in the company’s additional stocks.
Apart from the above, ‘Dividend Yield’, an additional metric to observe, is usually defined as the dividend per share and is expressed as dividend/price as a percentage of a company’s share price.
Since the adoption of the “T+1” settlement cycle, the ex-date as well as the record date for dividends is the same day. Listed below are six stocks trading Ex-Dividend next week:
Castrol India Limited
Castrol India Limited, manufacturing and selling transmission fluids, engine oil, and other lubricants to the Automotive industry, declared an Interim dividend of Rs 3 per share equating to a 60 percent payout as compared to the face value of Rs 5. The ex-dividend date has been fixed as 8th August 2023.
The company has a dividend yield of 4.30 percent. As of Friday, the company’s stock has a market capitalization of Rs 13,966 crores and closed at Rs 151.85, a gain of around 7.50 percent as compared to the previous close of Rs 141.20 apiece.
Power Grid Corporation of India Limited
Power Grid Corporation of India Limited, a state-owned Electric Utility company based in India, declared a Final dividend of Rs 4.75 per share equating to a 47.50 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 8th August 2023.
The company has a dividend yield of 4.04 percent. As of Friday, the company’s stock has a market capitalization of Rs 1,73,480 crores and closed at Rs 247.35, slipping around 0.55 percent as compared to the previous close of Rs 248.70 apiece.
ICICI Bank Limited
ICICI Bank Limited, a commercial bank headquartered in Mumbai, declared a Final dividend of Rs 8 per share equating to a 400 percent payout as compared to the face value of Rs 2. The ex-dividend date has been fixed as 9th August 2023.
The company has a dividend yield of 0.51 percent. As of Friday, the company’s stock has a market capitalization of Rs 6,75,270 crores and closed at Rs 970.50, a gain of around 0.57 percent as compared to the previous close of Rs 965 apiece.
West Coast Paper Mills Limited
West Coast Paper Mills Limited, involved in the business of producing paper and other related products, declared a Final dividend of Rs 10 per share equating to a 500 percent payout as compared to the face value of Rs 2. The ex-dividend date has been fixed as 9th August 2023.
The company has a dividend yield of 1.26 percent. As of Friday, the company’s stock has a market capitalization of Rs 3,164 crores and closed at Rs 476.10, slipping around 0.60 percent as compared to the previous close of Rs 479.05 apiece.
Lumax Auto Technologies Limited
Lumax AutoTechnologies Limited, engaged in the process of manufacturing automotive components and automotive lighting equipment, declared a Final dividend of Rs 4.50 per share equating to a 225 percent payout as compared to the face value of Rs 2. The ex-dividend date has been fixed as 10th August 2023.
The company has a dividend yield of 0.83 percent. As of Friday, the company’s stock has a market capitalization of Rs 2,717 crores and closed at Rs 421.05, a gain of around 6 percent as compared to the previous close of Rs 398.60 apiece.
Godfrey Phillips India Limited
Godfrey Phillips India Limited, a tobacco manufacturer, declared a Final dividend of Rs 44 per share equating to a 2,200 percent payout as compared to the face value of Rs 2. The ex-dividend date has been fixed as 11th August 2023.
The company has a dividend yield of 1.40 percent. As of Friday, the company’s stock has a market capitalization of Rs 10,551 crores and closed at Rs 2,003, slipping around 1.30 percent as compared to the previous close of Rs 2,029.20 apiece.
Written by Amit Madnani
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