June kicks off with a flurry of corporate action. From final and interim dividend declarations to bonus issues and stock splits, this week (June 2 -6) is packed with many developments that investors should keep an eye on. Investors looking for dividend gains, major corporates Larsen & Toubro, Tata Motors, Tata Consultancy Services (TCS), and Tata Steel are among the key companies that will go ex-dividend this week.
This is important as new buyers are no longer eligible to receive the upcoming dividend after the stock goes ex.
To be eligible, investors must own the stock before the record date.
Dividend-paying stocks this week: Dates and details
Let’s break down the dividend announcements based on their ex-dividend dates:
Tuesday, June 3
Larsen & Toubro – Final dividend of Rs 34 per share
Atishay – Final dividend of Re 1 per share
Nuvama Wealth Management – Interim dividend of Rs 69 per share
Sunshield Chemicals – Final dividend of Rs 2.5 per share
Wednesday, June 4
INOX India – Final dividend of Rs 2 per share
Seshasayee Paper and Boards – Final dividend of Rs 2.5 per share
Tata Motors – Final dividend of Rs 6 per share
Tata Consultancy Services (TCS) – Final dividend of Rs 30 per share
Thursday, June 5
Jindal Saw – Final dividend of Rs 2 per share
Rallis India – Final dividend of Rs 2.5 per share
Friday, June 6
A long list of companies will trade ex-dividend on Friday, including:
Bank of Baroda – Final dividend of Rs 8.3 per share
Container Corporation of India – Final dividend of Rs 2 per share
HDFC Asset Management – Final dividend of Rs 90 per share
IndiaMART InterMESH – Final dividend of Rs 30 per share and Special dividend of Rs 20 per share
L&T Technology Services – Final dividend of Rs 38 per share
Tata Steel – Final dividend of Rs 3.6 per share
JSW Energy – Final dividend of Rs 2 per share
Dr. Lal PathLabs – Final dividend of Rs 6 per share
Technocraft Industries – Final dividend of Rs 20 per share
High Energy Batteries, Maithan Alloys, QGO Finance, TAAL Enterprises, Nicco Parks, IFGL Refractories – Also announcing dividends ranging from Rs 0.15 to Rs 30 per share
Bonus shares also in focus this week
This week is not just about dividends. A couple of companies are also offering bonus shares too, rewarding its shareholders with additional shares:
Shalibhadra Finance will issue bonus shares in a 3:1 ratio (three bonus shares for every one share held). The stock will trade ex-bonus on June 4.
Shilchar Technologies will offer bonus shares in a 1:2 ratio, going ex-bonus on June 6.
Stock split alert this week: Coforge to split 1 share into 5
Another major corporate action to watch this week is the stock split of Coforge. The company will split its shares from a face value of Rs 10 to Rs 2, effectively turning 1 share into 5. The stock will trade ex-split on Wednesday, June 4.
