Stocks to Watch: 9 Stocks that will trade Ex Dividend next week 

‘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 9 stocks that will be trading Ex-Dividend next week: 

Cyient Limited:

Cyient Limited, providing a variety of information technology (IT) and engineering services, declared a Final dividend of Rs 16 per share equating to a 320 percent payout as compared to the face value of Rs 5. The ex-dividend date has been fixed as 12th June 2023. 

The company has a dividend yield of 1.92 percent. As of Friday, the company’s stock closed at a price of Rs 1,386 and has a market capitalization of Rs 15,327 crores. 

ICICI Lombard General Insurance Company Limited:

ICICI Lombard General Insurance Company Limited, a general insurance company, declared a Final dividend of Rs 5.50 per share equating to a 55 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 12th June 2023. 

The company has a dividend yield of 0.80 percent. As of Friday, the company’s stock closed at a price of Rs 1,215 and has a market capitalization of Rs 59,700 crores. 

Tata Investment Corporation Limited:

Tata Investment Corporation Limited, an Indian investment company with a diversified portfolio of quoted and unquoted securities of companies, declared a Final dividend of Rs 48 per share equating to a 480 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 12th June 2023. 

The company has a dividend yield of 2.06 percent. As of Friday, the company’s stock closed at a price of Rs 2,340 and has a market capitalization of Rs 11,837 crores.

Jindal Saw Limited:

Jindal Saw Limited, an Indian manufacturer and supplier of iron and steel fittings, pipes, and pellets, declared a Final dividend of Rs 3 per share equating to a 150 percent payout as compared to the face value of Rs 2. The ex-dividend date has been fixed as 13th June 2023. 

The company has a dividend yield of 1.30 percent. As of Friday, the company’s stock closed at a price of Rs 241 and has a market capitalization of Rs 7,702 crores. 

Canara Bank Limited:

Canara Bank Limited, a commercial bank offering personal banking services such as current & salary accounts, savings, etc, declared a Final dividend of Rs 12 per share equating to a 120 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 14th June 2023. 

The company has a dividend yield of 3.85 percent. As of Friday, the company’s stock closed at a price of Rs 311 and has a market capitalization of Rs 56,419 crores. 

Tata Chemicals Limited: 

Tata Chemicals Limited, manufacturer and seller of a variety of agricultural as well as chemical products, declared a Final dividend of Rs 17.50 per share equating to a 175 percent payout as compared to the face value of Rs 10. The ex-dividend date has been fixed as 14th June 2023. 

The company has a dividend yield of 1.74 percent. As of Friday, the company’s stock closed at a price of Rs 986 and has a market capitalization of Rs 25,117 crores. 

Tata Consultancy Services Limited:

Tata Consultancy Services Limited, the leading global IT services provider, declared a Final dividend of Rs 24 per share equating to a 2,400 percent payout as compared to the face value of Rs 1. The ex-dividend date has been fixed as 15th June 2023. 

Excluding the payment of a special dividend of Rs 67, the company has a dividend yield of 1.48 percent. As of Friday, the company’s stock closed at a price of Rs 3,209 and has a market capitalization of Rs 11.74 Lakh crores. 

Piramal Enterprises Limited:

Piramal Enterprises Limited, a diversified holdings company functioning through the ‘financial services’ and ‘pharma’ segments, declared a Final dividend of Rs 31 per share equating to a 1,550 percent payout as compared to the face value of Rs 2. The ex-dividend date has been fixed as 16th June 2023.

The company has a dividend yield of 3.94 percent. As of Friday, the company’s stock closed at a price of Rs 784 and has a market capitalization of Rs 18,719 crores. 

Shriram Finance Limited:

Shriram Finance Limited, an Indian Non-Banking Finance Company (NBFC) engaged in the financing of equipments, pre-owned vehicles, etc, 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 16th June 2023. 

The company has a dividend yield of 2.48 percent. As of Friday, the company’s stock closed at a price of Rs 1,417 and has a market capitalization of Rs 53,121 crores. 

Written by Amit Madnani

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