A ‘Dividend’ is the distribution of a company’s earnings to its shareholders and is determined by the Board of Directors (BOD) of the company. The dividend payments are often distributed quarterly and may be paid out as cash or by way of reinvestment in a company’s additional stock.
Moreover, ‘Dividend Yield’ is another metric to know which is generally expressed as a percentage. Dividend Yield is a financial ratio that shows how much a company pays out in dividends each year relative to its stock price.
Listed below are six stocks that will be trading ex-dividend during the next week: Elecon Engineering Company Limited
With a market capitalization of Rs 8,876.14 crores, Elecon Engineering Company Limited, involved in the design and manufacturing of Material Handling Equipment and Incraft carriers, declared an interim dividend of Rs 1 per share. The Record Date for the same is fixed as 31st October 2023.
The company’s shares closed at Rs 791.10 on Friday, gaining around 2.10 percent as compared to the previous closing levels of Rs 774.65 apiece.
Sasken Technologies Limited
With a market capitalization of Rs 1,735.82 crores, Sasken Technologies Limited, a specialist in Product Engineering and Digital Transformation, declared an interim dividend of Rs 12 per share. The Record Date for the same is fixed as 31st October 2023.
The company’s shares closed at Rs 1,153.30 on Friday, slipping around 2 percent as compared to the previous closing levels of Rs 1,177.50 apiece.
Styrenix Performance Materials Limited
With a market capitalization of Rs 2,494.08 crores, Styrenix Performance Materials Limited, manufacturing and selling engineering thermoplastics, declared an interim dividend of Rs 22 per share. The Record Date for the same is fixed as 31st October 2023.
The company’s shares closed at Rs 1,418.25 on Friday, gaining around 2.30 percent as compared to the previous closing levels of Rs 1,386.55 apiece.
Hindustan Unilever Limited
With a market capitalization of Rs 5.83 lakh crores, Hindustan Unilever Limited, engaged in the FMCG business, declared an interim dividend of Rs 18 per share. The Record Date for the same is fixed as 2nd November 2023.
The company’s shares closed at Rs 2,481.70 on Friday, gaining around 0.20 percent as compared to the previous closing levels of Rs 2,476.15 apiece.
Tech Mahindra Limited
With a market capitalization of Rs 1.09 lakh crores, Tech Mahindra Limited, providing a comprehensive range of IT services, declared an interim dividend of Rs 12 per share. The Record Date for the same is fixed as 2nd November 2023.
The company’s shares closed at Rs 1,120.65 on Friday, gaining around 0.40 percent as compared to the previous closing levels of Rs 1,116 apiece.
RailTel Corporation of India Limited
With a market capitalization of Rs 7,189.02 crores, RailTel Corporation of India Limited, a Miniratna company providing telecom services, declared an interim dividend of Rs 1 per share. The Record Date for the same is fixed as 4th November 2023.
The company’s shares closed at Rs 224 on Friday, gaining around 2.90 percent as compared to the previous closing levels of Rs 217.75 apiece.
Written by Amit Madnani
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