‘Dividend’, a very popular term associated with the capital markets industry, refers to the distribution of earnings of a company back to its stakeholders, and, the same is determined by the company’s Board of Directors. The dividend payment is usually paid in the form of cash or reinvestment in the company’s additional stock.
Listed below are seven stocks that will trade ex-dividend during the next week:
ICICI Securities Limited
ICICI Securities Limited, offering various services including retail broking, institutional broking, wealth management, etc, declared a Final dividend of Rs 9.25 per share equating to a 185 percent payout as compared to the face value of Rs 5. The ex-dividend date has been fixed as 22nd August 2023.
The company has a dividend yield of 4.50 percent. The company’s stock closed at a price of Rs 620 on Friday and has a market capitalization of Rs 20,000 crores.
Karnataka Bank Limited
Karnataka Bank Limited, with operating segments including treasury, wholesale/corporate banking, retail banking, etc, declared a Final dividend of Rs 5 per share equating to a 50 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 22nd August 2023.
The company has a dividend yield of 3.70 percent. The company’s stock closed at a price of Rs 228 on Friday and has a market capitalization of Rs 7,145 crores.
Panama Petrochem Limited
Panama Petrochem Limited, manufacturing as well as exporting petroleum specialty products, declared a Final dividend of Rs 5 per share equating to a 250 percent payout as compared to the face value of Rs 2. The ex-dividend date has been fixed as 22nd August 2023.
The company has a dividend yield of 2.75 percent. The company’s stock closed at a price of Rs 289 on Friday and has a market capitalization of Rs 1,740 crores.
HEG Limited
HEG Limited, manufacturer of graphite electrodes, declared a Final dividend of Rs 42.50 per share equating to a 425 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 24th August 2023.
The company has a dividend yield of 4.62 percent. The company’s stock closed at a price of Rs 1,700 on Friday and has a market capitalization of Rs 6,630 crores.
Monte Carlo Fashions Limited
Monte Carlo Fashions Limited, associated with the business of manufacturing & trading of clothing accessories and textile garments, declared a Final dividend of Rs 20 per share equating to a 200 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 24th August 2023.
The company has a dividend yield of 3.21 percent. The company’s stock closed at a price of Rs 749 on Friday and has a market capitalization of Rs 1,540 crores.
Deepak Fertilisers and Petrochemicals Corporation Limited
Deepak Fertilisers and Petrochemicals Corporation Limited, engaged in the business of fertilizers, bulk chemicals, mining chemicals, etc, declared a Final dividend of Rs 10 per share equating to a 100 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 25th August 2023.
The company has a dividend yield of 1.90 percent. The company’s stock closed at a price of Rs 544 on Friday and has a market capitalization of Rs 6,990 crores.
Gulf Oil Lubricants India Limited
Gulf Oil Lubricants India Limited, involved in the process of manufacturing, trading, and marketing greases and lubricants, declared a Final dividend of Rs 25 per share equating to a 1,250 percent payout as compared to the face value of Rs 2. The ex-dividend date has been fixed as 25th August 2023.
The company has a dividend yield of 6.18 percent. The company’s stock closed at a price of Rs 616 on Friday and has a market capitalization of Rs 3,000 crores.
Written by Amit Madnani
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