‘Dividend’ is usually defined as the distribution of a company’s earnings to its shareholders and is determined by its Board of Directors. Dividends are often been distributed once in three months and the mode of payment could be in cash or in the form of reinvestment in additional stocks of the company.
Moreover, an additional metric to note is the ‘Dividend Yield’ which 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 stocks that will be trading Ex-Dividend next week:
Bank of Maharashtra Limited
Bank of Maharashtra Limited, an Indian banking corporation providing various deposit schemes such as current accounts, saving accounts, etc, declared a Final dividend of Rs 1.30 equating to a 13 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 23rd May 2023.
The company has a dividend yield of 4.17 percent. The company’s stock closed at a price of Rs 31.15 and has a market capitalization of Rs 20,965 crores.
Great Eastern Shipping Company Limited
Great Eastern Shipping Company Limited, a shipping company involved in the bulk shipping business such as transportation of petroleum products, crude oil, gas, etc, declared an Interim dividend of Rs 9 equating to a 90 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 24th May 2023.
The company has a dividend yield of 5 percent. The company’s stock closed at a price of Rs 681 and has a market capitalization of Rs 9,722 crores.
Kansai Nerolac Paints Limited
Kansai Nerolac Paints Limited, a paint company providing a wide range of products and solutions in decorative and industrial coatings, declared a Final dividend of Rs 2.70 equating to a 270 percent payout as compared to the face value of Rs 1. The ex-dividend date has been fixed as 25th May 2023.
The company has a dividend yield of 0.65 percent. The company’s stock closed at a price of Rs 408.40 and has a market capitalization of Rs 22,009 crores.
Kennametal India Limited
Kennametal India Limited, engaged in the business of trading and manufacturing hard metal products and machine tools, declared an Interim dividend of Rs 20 equating to a 200 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 25th May 2023.
The company has a dividend yield of 1.93 percent. The company’s stock closed at a price of Rs 2,285.50 and has a market capitalization of Rs 5,023 crores.
Trent Limited
Trent Limited, operator of a chain of retail stores, declared a Final dividend of Rs 2.20 equating to a 220 percent payout as compared to the face value of Rs 1. The ex-dividend date has been fixed as 25th May 2023.
The company has a dividend yield of 0.15 percent. The company’s stock closed at a price of Rs 1,493.10 and has a market capitalization of Rs 53,077 crores.
Pearl Global Industries Limited
Pearl Global Industries Limited, engaged in the sourcing, manufacturing, distribution, and export of ready-to-wear apparel, declared an Interim dividend of Rs 5.00 equating to a 50 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 26th May 2023.
The company has a dividend yield of 2.53 percent. The company’s stock closed at a price of Rs 493.10 and has a market capitalization of Rs 1,068 crores.
Written by Amit Madnani
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