Domestic stock markets trend continues to be bearish with Sensex and Nifty falling more than 5.5% so far this month and down more than 8% each in 2022. S&P BSE Sensex and NSE Nifty 50 opened with gains on Wednesday but soon gave up gains to trend lower. “The trend continues to be negative and hence we continue with our advice for traders to avoid bottom fishing,” said Ruchit Jain, Lead Research, 5paisa.com yesterday after markets closed with losses. Investors could look for dividend stocks amid the current volatile market. HDFC Bank, HDFC, Angel One, JSW Energy are some stocks that have announced dividends and will soon start trading ex-dividend.
- P&G Health has announced a dividend of Rs 41 per share on face value Rs 10. The company’s shares will go ex-dividend tomorrow.
- Indian CardCloth is another stock that will go ex-dividend tomorrow. The company has announced a dividend of Rs 25 per share.
- India’s largest private lender, HDFC Bank had earlier announced a dividend of Rs 15.5 per share. The stock will go ex-dividend tomorrow.
- Coastal Corporation has announced a dividend of Rs 2 per share, and goes ex-dividend tomorrow.
- On Friday, GM Breweries shares will go ex-dividend with shareholders getting a dividend of Rs 5 per equity share of face value Rs 10 each.
- Oracle Financial Services has announced a dividend of Rs 190 per share and goes ex-dividend on Friday.
- Indus Towers shares will also go ex-dividend on Friday with a dividend of Rs 11 per share for shareholders.
Shareholders of Infosys will get a dividend of Rs 16 per share as the stock goes ex-dividend on May 31. Housing Development Finance Corporation shareholders will also get a dividend of Rs 30 apiece and the shares will trade ex-dividend at the end of the month. Other stocks that will go ex-dividend this month include GE Shipping, Trent, Angel One, Solar Industries, and JSW Energy.
The ex-dividend date is decided to determine the shareholders that will receive the announced dividend. On the ex-dividend date, the stock does not carry the value associated with its next dividend payment. The ex-dividend date is set a day or two before the record date. Shareholders, to be eligible for dividends, must hold the shares in the Demat account on the ex-dividend date.