Dividends are a great way to make passive income from the stock market. Companies may choose to distribute excess funds (profit) to shareholders in the form of dividends to shareholders, after covering their operating costs and projects.
These dividends are paid to those shareholders whose names appear in the register of members as on the record date. The ex-date is the date on which a stock starts trading without the benefit of the corporate action (dividend). These days, the ex-date and the record date for all the corporate actions, including dividends are on the same day since all the instruments have been moved to the T+1 settlement cycle.
Here are a few stocks that will be trading ex-dividend next week:
NMDC Ltd.
NMDC is engaged in the exploration and production of iron ore along with diamond, the production and sale of sponge iron and the generation and sale of wind power. The company’s shares closed at ₹ 119.40 apiece on Friday, with a market capitalization of ₹ 35,460 crores.
It has declared a final dividend of ₹ 2.85 per share. The company’s shares will be trading ex-dividend on August 31, 2023. NMDC has a dividend yield of 5.45 percent.
Gujarat State Petronet Ltd.
Gujarat State Petronet is engaged in the transmission of natural gas through pipelines, and the business of implementing and operating city gas distribution and generation of electricity through windmills. The company’s shares closed at ₹ 278.05 apiece on Friday, with a market capitalization of ₹ 15,694.00 crores.
It has declared a final dividend of ₹ 5.00 per share. The company’s shares will be trading ex-dividend on September 01, 2023. Gujarat State Petronet Ltd. has a dividend yield of 1.80 percent.
CMS Info Systems Ltd
CMS Info Systems is one of the largest cash management companies in terms of the number of ATM points and retail pick-up, in India. The company’s shares closed at ₹ 359.25 apiece on Friday, with a market capitalization of ₹ 5,566.00 crores.
It has declared a final dividend of ₹ 4.75 per share. The company’s shares will be trading ex-dividend on August 30, 2023. CMS Info Systems has a dividend yield of 1.33 percent.
Triveni Engineering and Industries Ltd.
Triveni Engineering and Industries is an integrated and diversified conglomerate in the areas of sugar, ethanol and engineering. It is among the Top 3 manufacturers in India for sugar & second highest supplier for ethanol. The company’s shares closed at ₹ 305.70 apiece on Friday, with a market capitalization of ₹ 6713.00 crores.
It has declared a final dividend of ₹ 3.25 per share. The company’s shares will be trading ex-dividend on September 01, 2023. Triveni Engineering and Industries has a dividend yield of 1.06 percent.
Tamilnad Mercantile Bank Ltd.
Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India, offering an array of banking and financial services to retail customers, and micro, small, and medium enterprises (MSMEs). The company’s shares closed at ₹ 525.15 apiece on Friday, with a market capitalization of ₹ 8,227.00 crores.
It has declared a final dividend of ₹ 5.00 per share. The company’s shares will be trading ex-dividend on August 29, 2023. Tamilnad Mercantile Bank has a dividend yield of 3.85 percent.
Ujjivan Financial Services Ltd
Ujjivan Financial Services was registered with the Reserve Bank of India as NBFC-MFI and has received approval from the RBI to set up a Small Finance Bank. The company’s shares closed at ₹ 489.90 apiece on Friday, with a market capitalization of ₹ 6,040.00 crores.
It has declared an interim dividend of ₹ 3.50 per share. The company’s shares will be trading ex-dividend on September 01, 2023.Ujjivan Financial Services has a dividend yield of 3.85 percent.
Written by Simran Bafna
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