The Indian Benchmark Indices closed flat on Friday and In the last five trading sessions, the Sensex gained by approximately 0.72 percent or 578.40 points, while the Nifty 50 index gained around 0.97 percent or 239.55 points.
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 some of the six stocks picked that will trade ex-dividend this week that you can add to your watchlist
Hindustan Zinc
Hindustan Zinc Limited is engaged in the exploration, extraction, processing of minerals, and manufacturing of metals and alloys. It has over 75 percent market share in India’s primary zinc market.
With a market capitalization of Rs. 2,17,140 Crores, the shares of Hindustan Zinc Limited closed at Rs. 513.90 per equity share, down 0.92 percent from its previous day’s close price of Rs. 518.65. It has delivered a return of 64 percent in a year.
Hindustan Zinc Limited has declared issuing an Interim Dividend of Rs. 19 per equity share with a face value of Rs. 2 representing a 950% payout and has fixed August 28, 2024, as the Ex-Date and Record date to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 5.66 percent.
I G Petrochemicals
I G Petrochemicals Limited is engaged in the manufacturing and supplying of organic chemicals like Phthalic Anhydride, Maleic Anhydride, Benzoic Acid, and others used in the manufacturing of dyes, polyester resins, and many more.
With a market capitalization of Rs. 2,172 Crores, the shares of I G Petrochemicals Limited closed at Rs. 705.55 per equity share, up 0.26 percent from its previous day’s close price of Rs. 703.75. It has delivered a return of 49 percent in a year.
I G Petrochemicals Limited has declared issuing a Final Dividend of Rs. 7.5 per equity share with a face value of Rs. 10 representing a 75% payout and has fixed August 29, 2024, as the Ex-Date and Record date to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 1.04 percent.
Radiant Cash Management Services
Radiant Cash Management Services Limited is engaged in retail cash management services for banks, financial institutions, and organized retail and e-commerce companies.
With a market capitalization of Rs. 937 Crores, the shares of Radiant Cash Management Services Limited closed at Rs. 87.77 per equity share, up 0.94 percent from its previous day’s close price of Rs. 86.95.
Radiant Cash Management Services Limited has declared issuing a Final Dividend of Rs. 2.5 per equity share with a face value of Rs. 1 representing a 250% payout and has fixed August 29, 2024, as the Ex-Date and record date to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 2.86 percent.
Jamna Auto Industries
Jamna Auto Industries Limited is engaged in manufacturing conventional leaf springs, parabolic leaf springs, air suspensions, lift axles, and others predominantly for Commercial Vehicles.
With a market capitalization of Rs. 5,070 Crores, the shares of Jamna Auto Industries Limited closed at Rs. 127.10 per equity share, up 0.20 percent from its previous day’s close price of Rs. 126.85. It has delivered a return of 18 percent in a year.
Jamna Auto Industries Limited has declared issuing a Final Dividend of Rs. 1.3 per equity share with a face value of Rs. 1 representing a 130% payout and has fixed August 29, 2024, as the Ex-Date and record date to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 1.88 percent.
Oil India
Oil India Limited is engaged in the exploration, development, and production of crude oil and natural gas, transportation of crude oil, production of LPG, and E&P-related services for oil blocks.
With a market capitalization of Rs. 1,10,942 Crores, the shares of Oil India Limited closed at Rs. 682.05 per equity share, up 0.09 percent from its previous day’s close price of Rs. 681.45. It has delivered a return of 252 percent in a year.
Oil India Limited has declared issuing a Final Dividend of Rs. 2.5 per equity share with a face value of Rs. 10 representing a 25% payout and has fixed August 30, 2024, as the Ex-Date and record date to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 1.53 percent.
Power Finance Corporation
Power Finance Corporation Limited is a Non-Deposit NBFC, engaged in providing financial assistance to the power sector, fund-based products include project term loans, lease financing, corporate loans, lines of credit, and many others.
With a market capitalization of Rs. 1,69,856 Crores, the shares of Power Finance Corporation Limited closed at Rs. 514.70 per equity share, down 0.50 percent from its previous day’s close price of Rs. 517.30. It has delivered a return of 135 percent in a year.
Power Finance Corporation Limited has declared issuing an Interim Dividend of Rs. 3.25 per equity share with a face value of Rs. 10 representing a 32.5% payout and has fixed August 30, 2024, as the Ex-Date and record date to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 2.61 percent.
Written by: Bharath K.S
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