Eight companies have set their record dates this week to determine eligibility of shareholders for interim dividend payments.
The dividend will be paid to all shareholders whose names are recorded in the company's shareholder records as of the end of the record date.
Dividend payments to shareholders on a recurring basis are known as interim dividends. Interim dividends typically aren't as large as dividend payments made after the end of financial year. Generally, when quarterly earnings results are reported, these payments are announced.
On the other side, a final dividend is one that a company pays out following its annual general meeting, the conclusion of the relevant fiscal year, and the release of its annual financial results.
Companies offer dividends as incentives for equity investors seeking both revenue and an increase in share value.
Wednesday, March 29
Two companies, SBI Cards and Payment Services Ltd, and Hindustan Zinc Ltd have set Wednesday, March 29, as the record date for the purpose of determining the shareholders eligible for interim dividend. Shares of these companies will trade ex-dividend on March 29.
SBI Cards and Payment Services Ltd that provides credit card services in its exchange filing stated that the board has declared an interim dividend of ₹2.50 (25%) per equity share (face value of ₹10 each) of the company.
The interim dividend will be credited/dispatched on or before Wednesday, April 19.
Hindustan Zinc Ltd, which is engaged in the mining and smelting of zinc, lead and silver metal in India, has declared fourth interim dividend of ₹26 per share on the face value of ₹2 per share for FY23, or 1,300%. The fourth interim dividend to eligible shareholders will be paid within the defined timelines.
Thursday, March 30
Brand Concepts Ltd, a fashion and lifestyle retail company, has set Thursday, March 30, as the record date for the purpose of determining the shareholders eligible for interim dividend. Shares of these companies will trade ex-dividend on Wednesday, March 29.
According to the exchange filing of the company, the board declared interim dividend of ₹0.50 per equity share of face value of ₹10 (5%).
Friday, March 31
Three companies, namely, Indraprastha Gas Ltd, Angel One Ltd, Dwarikesh Sugar Industries Ltd have set Friday, March 31, as the record date for the purpose of determining the shareholders eligible for interim dividend. Shares of these companies will trade ex-dividend on March 31.
Indraprastha Gas Ltd's board has declared second interim dividend at 500% i.e. Rs10 per share (face value of ₹2 each) of the company for the financial year 2022-23.
Angel One Ltd is engaged in the business of stock, currency and commodity broking, providing margin trading facilities, depository services and distribution of mutual funds to its clients. The board has declared fourth interim dividend for the financial year 2022-23 at the rate of ₹9.60 per equity share (96%) of face value of ₹10 per share of the company.
Dwarikesh Sugar Industries Ltd is primarily engaged in the manufacture of sugar and allied products. The board has declared interim dividend at 200% i.e. ₹2 per equity share of ₹1 each for FY 2022-23.
Saturday, April 1
Crisil Ltd and Power Finance Corporation Ltd have set Saturday, April 1, as the record date for the purpose of determining the shareholders eligible for final and interim dividend. Shares of these companies will trade ex-dividend on Friday, March 31.
Crisil Ltd is engaged in providing ratings, data, research, analytics and solutions. The board declared a final dividend of ₹23 per equity share (2300%) of the face value of Re 1 each.
Power Finance Corporation Ltd is primarily engaged in providing financial assistance to the power sector. The company has fixed a record date if in case it declares a interim dividend.