One of the best wealth-building strategies is investing in the stock market. Capital appreciation and dividend income help investors to build wealth in the long term.
Dividends are sums of money distributed to shareholders from the company’s profits. Companies may decide to pay dividends to shareholders when their operational expenses and ongoing projects are sufficiently funded.
The shareholders whose names appear in the register of members as of the record date will receive these dividend payments. The ex-date is the date on which a stock starts trading without the benefit of a dividend. Since all securities have been switched to the T+1 settlement cycle, the ex-date and the record date for all corporate actions, including dividends, are now on the same day.
Here are a few stocks that will be trading ex-dividend next week:
Bajaj Auto:
Bajaj Auto manufactures two-wheeler and three-wheelers and has acquired a stake in the KTM brand which manufactures sports and super sports two-wheelers. The company’s shares closed at ₹ 4615 apiece on Friday, with a market capitalization of ₹ 1,30,599 crores.
The company declared a final dividend of ₹ 140.00 per share. The company’s shares will be trading ex-dividend on June 30, 2023. Bajaj Auto has a dividend yield of 3.04%.
Nippon Life India Asset Management Ltd:
The company is engaged in managing mutual funds including exchange traded funds (ETFs). Moreover, it provides portfolio management services, alternative investment funds and pension funds and offshore funds and advisory mandates. Its shares closed at ₹ 251 apiece on Friday, with a market capitalization of ₹ 15,832 crores.
It declared a final dividend of ₹ 7.5 per share. The company’s shares will be trading ex-dividend on June 30, 2023. Nippon Life India Asset Management has a dividend yield of 4.53%.
Bank of Baroda:
The bank offers treasury services, personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, and NRI services. Its shares closed at ₹ 192 apiece on Friday, with a market capitalization of ₹ 99,419 crores.
Bank of Baroda declared a final dividend of ₹ 5.5 per share. The company’s shares will be trading ex-dividend on June 30, 2023. It has a dividend yield of 2.85%.
GlaxoSmithKline Pharmaceuticals:
GlaxoSmithKline Pharmaceuticals research, manufacture and make available a broad range of medicines and vaccines that benefit people. Its shares closed at ₹ 1,410 apiece on Friday, with a market capitalization of ₹ 23,913 crores.
The company declared a final dividend of ₹ 32.00 per share. Its shares will be trading ex-dividend on June 30, 2023. It has a dividend yield of 2.23%.
Kuantum Papers:
Kuantum Papers is in the business of production and marketing of wood-free writing and printing paper. Its shares closed at ₹ 170 apiece on Friday, with a market capitalization of ₹ 1,488 crores.
The company declared a final dividend of ₹ 3.00 per share. Its shares will be trading ex-dividend on June 30, 2023. It has a dividend yield of 1.72%.
Supreme Petrochem:
Supreme Petrochem is engaged in the business of manufacturing polystyrene, compounds of styrenics and other polymers. Its shares closed at ₹ 451 apiece on Friday, with a market capitalization of ₹ 8,483 crores.
The company declared a final dividend of ₹ 7.00 per share. Its shares will be trading ex-dividend on June 27, 2023. It has a dividend yield of 1.99%.
Tata Communications:
Tata Communications is a global digital ecosystem enabler with a leadership position in emerging markets, and an infrastructure that spans the globe. It delivers managed solutions to multinational companies and service providers. The company’s shares closed at ₹ 1,561 apiece on Friday, with a market capitalization of ₹ 8,44,515 crores.
Tata Communications declared a final dividend of ₹ 21.00 per share. Its shares will be trading ex-dividend on June 26, 2023. It has a dividend yield of 1.33%.
A few other stocks that will be trading ex-dividend next week include Nilkamal, SKF India, Welspun Enterprises, Vaibhav Global, Bajaj Finance, Aegis Logistics, Greenlam Industries, Sona BLW Precision Forgings.
Written By Simran Bafna
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