Dividends are a way for companies to distribute a portion of their earnings back to the shareholders as a reward for their investment.
Dividends can be an important source of income for investors, especially those looking for steady and predictable returns.
They also reflect a company’s financial health and profitability, often signaling confidence from the management about future earnings.
Dividends are usually associated with established companies that have a history of profitability. Growth-oriented companies might opt to reinvest profits back into the business rather than pay dividends, to fuel further expansion.
Here are the six stocks that will trade ex-dividend this week:
Tide Water Oil(India)
Tide Water Oil Company (India) Limited is engaged in the business of manufacturing and marketing a wide range of automotive lubricants, Industrial lubricants, and specialties. It is a leading manufacturer and marketer of lubricants in over 65 countries.
With a market capitalization of Rs.3,994 Crores, the shares of Tide Water Oil(India) Limited closed at Rs. 2,292.65 per equity share, up 6.19 percent from its previous day’s close price of Rs. 2,159.10.
Tide Water Oil(India) Limited has declared issuing a Dividend of Rs. 20 per equity share with a face value of Rs. 2 representing a 1000% payout and has fixed July 4, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 2.26 percent.
SKF India
SKF India Limited is a leading supplier of products, solutions & services within rolling bearings, seals, mechatronics, and lubrication systems, catering to the automotive and industrial sectors.
With a market capitalization of Rs. 31,950 Crores, the shares of SKF India Limited closed at Rs. 6,462.80 per equity share, down 1 percent from its previous day’s close price of Rs. 6,527.55.
SKF India Limited has declared issuing a Final Dividend of Rs. 130 per equity share with a face value of Rs. 10 representing a 1300% payout and has fixed July 4, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 1.98 percent.
Apollo Tyres
Apollo Tyres Limited is engaged in the business of manufacturing and sale of automotive tyres, it operates in the segment of automobile tires, automobile tubes, and automobile flags.
With a market capitalization of Rs. 34,441 Crores, the shares of Apollo Tyres Limited closed at Rs. 542.30 per equity share, up 4.85 percent from its previous day’s close price of Rs. 517.20.
Apollo Tyres Limited has declared issuing a Final Dividend of Rs. 6 per equity share with a face value of Rs. 1 representing a 600% payout, and has fixed July 5, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 1.11 percent.
Mahindra & Mahindra
Mahindra & Mahindra Limited is engaged in the business of offering farm equipment, utility vehicles, information technology, consumer services, and financial services.
With a market capitalization of Rs. 3,56,668 Crores, the shares of Mahindra & Mahindra Limited closed at Rs. 2,868.20 per equity share, down 0.58 percent from its previous day’s close price of Rs. 2,884.80.
Mahindra & Mahindra Limited has declared issuing a Final Dividend of Rs. 21 per equity share with a face value of Rs. 5 representing a ~400% payout, and has fixed July 5, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 0.73 percent.
Escorts Kubota
Escorts Kubota Limited is one of the leading engineering companies engaged in the business of manufacturing Agriculture machinery, Construction & Material Handling Equipment, Railway equipment, and many others.
With a market capitalization of Rs. 45,789 Crores, the shares of Escorts Kubota Limited closed at Rs. 4,143.90 per equity share, down 0.11 percent from its previous day’s close price of Rs. 4,148.65.
Escorts Kubota Limited has declared issuing a Final Dividend of Rs. 18 per equity share with a face value of Rs. 10 representing a 180% payout and has fixed July 5, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 0.43 percent.
Thermax
Thermax Limited is engaged in offering integrated solutions in heating, water treatment, cooling, power generation, recycling, air pollution control, chemicals, and many more.
With a market capitalization of Rs. 63,617 Crores, the shares of Thermax Limited closed at Rs. 5,339 per equity share, down 0.30 percent from its previous day’s close price of Rs. 5,355.10.
Thermax Limited has declared issuing a Dividend of Rs. 12 per equity share with a face value of Rs. 2 representing a 600% payout and has fixed July 5, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 0.23 percent.
Written by: Bharath K.S
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