Dividends are a way for companies to distribute a portion of their earnings back to the shareholders as a reward for their investment. Dividends can be an important source of income for investors, especially those looking for steady and predictable returns. They also reflect a company’s financial health and profitability, often signaling confidence from the management about future earnings.
Dividends are usually associated with established companies that have a history of profitability. Growth-oriented companies might opt to reinvest profits back into the business rather than pay dividends, to fuel further expansion.
Here are the six stocks that will trade ex-dividend this week:
JSW Steel
JSW Steel Limited is engaged in the business of manufacturing and supplying iron and steel products, with a product portfolio consisting of cold-rolled coils and sheets, hot-rolled coils, wire rods, rails, and many more.
With a market capitalization of Rs. 2,33,333 Crores, the shares of JSW Steel Limited closed at Rs. 954.15 per equity share, up 1.02 percent from its previous day’s close price of Rs. 944.50.
JSW Steel Limited has declared issuing a Final Dividend of Rs. 7.3 per equity share with a face value of Rs. 1 representing a 730% payout and has fixed July 9, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 0.76 percent.
Polycab India
Polycab India Limited is a fast-moving electrical goods manufacturer engaged in the business of manufacturing cables, wires, and allied products such as uPVC conduits, switchgear, LED Lights, Fans, pumps, Solar Inverters, and many more.
With a market capitalization of Rs. 99,668 Crores, the shares of Polycab India Limited closed at Rs. 6,629.15 per equity share, down 0.51 percent from its previous day’s close price of Rs. 6,662.90.
Polycab India Limited has declared issuing a Final Dividend of Rs. 30 per equity share with a face value of Rs. 10 representing a 300% payout and has fixed July 9, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 0.45 percent.
Mphasis
Mphasis Limited is an IT solutions provider specialising in providing cloud and cognitive services to help enterprises transform businesses globally.
With a market capitalization of Rs. 49,705 Crores, the shares of Mphasis Limited closed at Rs. 2,628.65 per equity share, up 1.73 percent from its previous day’s close price of Rs. 2,583.85.
Mphasis Limited has declared issuing a Final Dividend of Rs. 55 per equity share with a face value of Rs. 10 representing a 550% payout and has fixed July 10, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 2.12 percent.
Indian Oil Corporation
Indian Oil Corporation Limited is a Maharatna Central Public Sector Enterprise and the largest refiner in the country with a market share of 42 percent across petroleum, oil, and lubricants, with over 59,900 touchpoints.
It has business interests across the entire value chain of hydrocarbon from Refining, Pipeline transportation, and marketing of Petroleum products to R&D, Exploration & production, and marketing of natural gas and petrochemicals.
With a market capitalization of Rs. 2,41,684 Crores, the shares of Indian Oil Corporation Limited closed at Rs. 171.15 per equity share, up 0.62 percent from its previous day’s close price of Rs. 170.10.
Indian Oil Corporation Limited has declared issuing a Final Dividend of Rs. 7 per equity share with a face value of Rs. 10 representing a 70% payout and has fixed July 12, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 6.99 percent.
Sun Pharmaceutical Industries
Sun Pharmaceutical Industries Limited is one of the largest pharmaceutical companies in India the fourth largest specialty generic company in the world, it is engaged in the business of manufacturing, developing, and marketing a wide range of branded and generic formulations and Active Pharma Ingredients.
With a market capitalization of Rs. 3,76,410 Crores, the shares of Sun Pharmaceutical Industries Limited closed at Rs. 1,568.85 per equity share, up 0.70 percent from its previous day’s close price of Rs. 1,557.95.
Sun Pharmaceuticals Limited has declared issuing a Final Dividend of Rs. 5 per equity share with a face value of Rs. 1 representing a 500% payout and has fixed July 12, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 0.87 percent.
Petronet LNG
Petronet LNG Limited was formed as a joint venture by 4 of the leading Oil and gas PSUs ONGC, IOCL, GAIL, and BPCL to import, process, and sell Liquefied natural gas (LNG) and set up LNG terminals in India.
With a market capitalization of Rs. 50,572 Crores, the shares of Petronet LNG Limited closed at Rs. 337.15 per equity share, up 1.47 percent from its previous day’s close price of Rs. 332.25.
Petronet LNG Limited has declared issuing a Final Dividend of Rs. 3 per equity share with a face value of Rs. 10 representing a 30% payout and has fixed July 12, 2024, as the record rate to determine eligible shareholders of the company for issuing the dividend. It has a Dividend yield of 3 percent.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
