Investors hunting dividend payouts might want to keep a close eye on Dalal Street this week. In the coming days, a number of firms from various sectors will approach their record dates for dividend payouts, regulatory filings show.
Investors hunting dividend payouts might want to keep a close eye on Dalal Street this week. In the coming days, a number of firms from various sectors will approach their record dates for dividend payouts, regulatory filings show. At present, where interest rates are low and liquidity is abundant, analysts have said that the possibility of higher dividend payouts in the coming quarters by India Inc can not be ruled out. Various brokerage firms have said that improving cash flows could leave more space for dividends and buybacks by companies in the near future, as a way of rewarding shareholders. Here are the companies that are approaching their record dates this week.
Caplin Point Laboratories: The stock is up 6% today trading at Rs 626 per share. The Company has announced a dividend per share of Rs 1.5, this translates to a dividend yield of 75% on the face value of Rs 2 per share. Caplin Point’s board had declared the dividend earlier this month. The record date for the dividend is tomorrow, May 18.
Coforge: The Information Technology sector firm had announced a dividend of Rs 13 per share earlier this month, along with the January-March quarter results of the company. The stock has jumped 18% so far this month to trade at Rs 3,384 per share. The record date for dividend payout is May 18.
Sundram Fasteners: Auto part and equipment manufacturer, Sundram Fasteners also announced their dividend in may this year. The company has announced a dividend of Rs 3.4 per equity share of face value Rs 1. The stock currently trades at Rs 732 per share, up 7.6% today. The record date for the stock is May 18.
Visaka Industries: The smallcap company had announced a final dividend of Rs 10 per equity share, translating to a dividend yield of 100%. The record date for the dividend was finalised as May 18. Currently, the stock trades at Rs 647 per share, up 5.22%. This year, the stock has surged 67% so far.
ABB Power Products and Systems: The company has announced a dividend of Rs 2 per equity share of the face value of Rs 2 each. The stock is down in the red today, trading at Rs 1,700 per share. So far this month, the stock has fallen 6%. ABB Power Products and Systems has set the record date for the dividend as May 19.
Ircon International: This week investors can also keep an eye on Ircon International which has announced a bonus issue in the ratio of 1:1. Each shareholder of Ircon International, a construction and engineering firm, will get an additional share according to the bonus issue. The record date for the same has been set as May 21. Since the beginning of this month, the stock has surged 15% to now trade at Rs 100 apiece.