‘Dividend’ is usually defined as the distribution of a company’s earnings to its shareholders and is determined by its Board of Directors. They are often been distributed once in a quarter and the mode of payment could be in the form of cash or reinvestment in additional stocks of the company.
Moreover, ‘Dividend Yield’, an additional metric to observe, is 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 seven stocks trading Ex-Dividend next week:
UTI Asset Management Company Limited
UTI Asset Management Company Limited, primarily engaged in the activities of raising funds for and rendering investment management services, declared a Final dividend of Rs 22 per share equating to a 220 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 18th July 2023.
The company has a dividend yield of 2.64 percent. As of Friday, the company’s stock closed at a price of Rs 831.90 and has a market capitalization of Rs 10,342 crores.
Praj Industries Limited
Praj Industries Limited, operating in the field of bio-based technologies and engineering worldwide, declared a Final dividend of Rs 4.50 per share equating to a 225 percent payout compared to the face value of Rs 2. The ex-dividend date has been fixed as 19th July 2023.
The company has a dividend yield of 1.10 percent. As of Friday, the company’s stock closed at a price of Rs 406.65 and has a market capitalization of Rs 7,321 crores.
Graphite India Limited
Graphite India Limited, engaged in the business of manufacturing and selling of graphite & carbon and other products, declared a Final dividend of Rs 8.50 per share equating to a 425 percent payout compared to the face value of Rs 2. The ex-dividend date has been fixed as 20th July 2023.
The company has a dividend yield of 2.04 percent. As of Friday, the company’s stock closed at a price of Rs 415.80 and has a market capitalization of Rs 7,976 crores.
Novartis India Limited
Novartis India Limited, engaged in the Business of Wholesale of pharmaceuticals and medical goods, declared a Final dividend of Rs 10 per share equating to a 200 percent
payout compared to the face value of Rs 5. The ex-dividend date has been fixed as 20th July 2023.
With the same record date, the company is also going to pay a special dividend of Rs 37.50 per share. The company has a dividend yield of 1.16 percent. As of Friday, the company’s stock closed at a price of Rs 859.90 and has a market capitalization of Rs 2,117 crores.
Arvind Limited
Arvind Limited, one of India’s leading vertically integrated textile company, declared a Final dividend of Rs 3.75 per share equating to a 37.50 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 21st July 2023.
With the same record date, the company is also going to pay a special dividend of Rs 2 per share. The company has a dividend yield of 2.76 percent. As of Friday, the company’s stock closed at a price of Rs 135.85 and has a market capitalization of Rs 3,471 crores.
Blue Star Limited
Blue Star Limited, a manufacturer of air purifiers, air coolers, water purifiers, cold storage and speciality products, declared a Final dividend of Rs 12 per share equating to a 600 percent payout as compared to the face value of Rs 2. The ex-dividend date has been fixed as 21st July 2023.
The company has a dividend yield of 1.51 percent. As of Friday, the company’s stock closed at a price of Rs 793.75 and has a market capitalization of Rs 15,318 crores.
Tech Mahindra Limited
Tech Mahindra Limited, providing a comprehensive range of IT services, including application development and maintenance, etc, declared a Final dividend of Rs 32 per share equating to a 640 percent payout as compared to the face value of Rs 5. The ex-dividend date has been fixed as 21st July 2023.
The company has a dividend yield of 2.60 percent. As of Friday, the company’s stock closed at a price of Rs 1,228.65 and has a market capitalization of Rs 1,14,557 crores.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
