As the fourth quarter results for FY2023 are being revealed, numerous companies have announced dividends for their valued shareholders.
Here are some notable companies that will be distributing dividends to their shareholders, with their ex-dividend dates set for the upcoming week.
Bank of Maharashtra
The board of directors of Bank of Maharashtra, a state-run bank, has recommended a dividend of Rs 1.30 per equity share (13 percent) for the last financial year.
The record date has been set for May 23. On Friday, the shares of Bank of Maharashtra closed at Rs 31.25, showing a slight increase of 0.32 percent.
Manappuram Finance has declared an interim dividend of Rs 0.75 per equity share with a face value of Rs 2 each.
The eligibility for the interim dividend will be determined on May 24, 2023. The shares will go ex-dividend on the same day.
Trent, a company in the board’s consideration, has declared a dividend of Rs 2.20 per share on the face value of Re 1.
Shareholders will receive a dividend of 220 percent. The payment will be made after approval in the Annual General Meeting, scheduled for June 16, 2023.
The record date has been set for May 25, and the shares will trade ex-dividend from that day onwards.
Great Eastern Shipping Company
The board of Great Eastern Shipping Company has declared a 4th interim dividend of Rs 9 per share for FY23.
The record date and ex-dividend date have been fixed as May 24.
Kansai Nerolac Paints
Kansai Nerolac Paints has recommended a 270 percent dividend of Rs 2.70 per share for FY23, surpassing the previous year’s dividend of 225 percent (Rs 2.25 per share).
The dividend will be payable on or after June 30, 2023. The shares will trade ex-dividend on May 25.
Rossari Biotech’s board has recommended a dividend of 25 percent. Shareholders will receive a dividend of Rs 0.5 per share on the face value of Rs 2 for FY2023.
This proposal requires approval in the upcoming Annual General Meeting.
The record date has been set for May 24, and the shares will trade ex-dividend on the same day.
Kennametal India’s board has declared a dividend of Rs 20 per equity share with a face value of Rs 10 for FY23.
The record date and ex-dividend date have both been set as May 25.
Pearl Global Industries
The board of Pearl Global Industries has approved a second interim dividend of Rs 5 per equity share, which amounts to 50 percent of the face value of Rs 10, for FY23.
The company has committed to paying the dividend to its members within 30 days from the declaration date.
May 26 has been designated as the record date, and the shares will trade ex-dividend on the same day.
Every investor waits for this day, when the company announces the dividend amount. In most of the cases the amount is not so significant, but it sure has positive impact on stock prices. If a company is distributing dividend then it is surely making profits and is in right path.
All the above companies are ready with their dividends and will be allotted soon. Have you invested in any stock that is paying dividends? Will you invest in any of the above stocks?
Let us know in comments below.