With the beginning of the second quarter of the current financial year, companies listed on the Indian stock market have started announcing their financial results for the first quarter.
Along with these earnings, many companies are also declaring dividends for their shareholders. As the record dates for these dividends approach, 3M India has announced a bumper dividend of ₹506 per share for its investors.
The company has a strong track record of rewarding shareholders with large dividend payouts, and this latest announcement continues that trend.
₹506 Dividend Includes Final and Special Dividend
The total dividend of ₹506 per share announced by 3M India consists of a final dividend of ₹160 per share and a special dividend of ₹346 per share.
The company has fixed Friday, July 17, as the record date for determining eligible shareholders.
However, the dividend will be paid only after shareholders approve it at the company’s 39th Annual General Meeting (AGM), which is scheduled to be held in August.
Once the proposal receives shareholder approval, the dividend amount will be distributed within 30 days from the date of the AGM.
Shares to Trade Ex-Dividend on July 17
3M India shares will trade ex-dividend on Friday, July 17. Investors should remember that anyone buying the company’s shares on the ex-dividend date will not be eligible to receive this dividend.
To qualify for the ₹506 per share dividend, investors must purchase 3M India shares before the record date. This means the last day to buy the shares and become eligible for the dividend is July 16.
3M India Share Price Today
On Tuesday, July 7, 3M India shares were trading slightly lower on the BSE. At 2:11 PM, the stock was priced at ₹35,116.55, down by ₹12.25 or 0.03%.
During the day’s trading session, the stock touched an intraday low of ₹35,000.00 and an intraday high of ₹35,499.90.
Over the past 52 weeks, the company’s shares have traded between a low of ₹28,747.30 and a high of ₹38,300.00 on the BSE.
