This means that today is the last day to buy the shares of these companies in order to be able to qualify for the dividends announced.
Earlier in the month of April, Ultratech Cement’s board had declared a dividend of Rs 70 per share for all its eligible shareholders.
“We now inform you that the Board at its meeting held today: recommended a dividend of 700% at the rate of Rs. 70/- per equity share of Rs. 10/- each for the year ended 31st March, 2024, subject to the approval of shareholders at the ensuing Annual General Meeting (“AGM”) of the Company,” the company had informed via a filing to the exchanges.
Ultratech Cement has paid out a dividend to its shareholders on an annual basis since 2004. In the last 2 years, the company had paid 2 final dividends of Rs 38 each in July 2023 and August 2022.Shares of Ultratech Cement closed 2% higher on Friday at Rs 11,679.25 on BSE.Dividends are distributed to shareholders listed in the company’s database on the record date. With the adoption of the T+1 framework, the record date and ex-date usually coincide, except when a market holiday falls after the ex-date.Shareholders who purchase the stock at least one day before the ex-date qualify for dividends, as settlement occurs the following day. However, those who buy the stock on the ex-date are not eligible for dividends.
Here is a list of other stocks, as per StockEdge that will start trading on an ex-dividend basis from Tuesday:
Avanti Feeds (dividend of Rs 6.75), Banswara Syntex (dividend of Rs 1), Brigade Enterprises (dividend of Rs 2), BSL (dividend of Re 1), Cravatex (dividend of Rs 3), Fidel Softech (dividend of Rs 1.1), Granules (dividend of Rs 1.5), Kokuyo Camlin (dividend of Rs 0.5), Orient Bell (dividend of Rs 0.5), Pecos Hotels and Pubs (dividend of Rs 3) and Standard Industries (dividend of Rs 0.55).
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