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Corporate actions this week: Stock splits, rights issue, dividends and more
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6 min read | Updated on July 15, 2024, 18:02 IST
SUMMARY
This week Indian stock market expects several corporate activities like dividend announcements, rights issues, bonus issues and stock splits. Watch out for CDSL and Abbott India for dividend announcements and stock splits in KPI Green Energy and Elicon Engineering. Indowwind Energy has record dates for its rights issue and a total of two companies issuing bonuses this week.
M&M, Dr Reddy’s Labs are among the companies with dividend record dates this week
Dividend Payouts
The following companies are giving out dividends this week:
The ex-dividend date determines which shareholders will receive the announced dividend of the company on that specific date. It is the day when the stock of the company goes ex-dividend, meaning the stock from that day does not carry the value associated with its next dividend payment.
Praj Industries Ltd has an ex-dividend date of July 18, 2024. It will give a dividend of ₹6 per share on the face value of ₹2 for those who hold the shares of the company on the record date of July 19, 2024.
Amara Raja Energy & Mobility Ltd will be paying a final dividend of ₹5.10 on the face value of ₹1 for those holding shares on the record date of July 19, 2024, It has the ex-dividend date of July 18, 2024.
Tanla Platforms Ltd has the same ex-dividend date and record date of July 18, 2024. It will give a dividend of ₹6 per share on the face value of ₹1 for those holding the stock on the record date of July 18, 2024.
Thursday, July 18, 2024, is the ex-dividend date for the investment corporation UTI AMC Ltd. They will give out ₹24 as its final dividend and ₹23 special dividend for the 2024 financial year on the face value of ₹2 for those who hold the shares on the record date of July 19, 2024.
On Friday, the ex-dividend date of July 19, 2024, Tech Mahindra Ltd will deliver a final dividend of ₹28 on a face value of ₹5. Chennai Petroleum Corporation Ltd has the same ex-dividend date and record date of July 19, 2024. The company will give a final dividend of ₹55 per share on the face value of ₹10 for those who hold the shares on the record date of July 19, 2024.
Bosch Ltd has an ex-dividend date of July 19, 2024. It will give a dividend of ₹170 per share on the face value of ₹10 for those who hold the shares of the company on the record date of July 20, 2024.
ICRA Ltd will be paying a final dividend of ₹100 on the face value of ₹10 for those holding shares on the record date of July 20, 2024, It has an ex-dividend date of July 19, 2024.
Abbott India Ltd has the same ex-dividend date and record date of July 19, 2024. It will give a dividend of ₹410 per share on the face value of ₹10 for those holding the stock on the record date of July 19, 2024.
Friday, July 19, 2024, is the ex-dividend date for the IT corporation Tata Consultancy Services Ltd. They will give out ₹10 as its final dividend for the first quarter of the financial year 2025 on the face value of ₹2 for those who hold the shares on the record date of July 20, 2024.
Stock Splits
Three companies will undergo stock splits this week:
What is a stock split? An increase in the number of shares of a corporation's stock without a change in the shareholders' equity.
On July 17, 2024, KPI Green Energy Ltd will undergo a stock split (ex-date), changing the face value from ₹10 to ₹5 per share, with a split ratio of 2:1. This means if you hold 1 share of the company of ₹10 face value, you will receive 2 shares of ₹5 each after the split.
On July 18, 2024, the ex-split date of Elicon Engineering Ltd and its shares will be split in a 2:1 ratio where ₹2 shares will trade at ₹1. This means if you hold 1 share of the company of ₹2 face value, you will receive 2 shares of ₹1 each after the split.
On July 19, 2024, NHC Food Ltd will undergo a stock split (ex-date), changing the face value from ₹10 to ₹1 per share, with a split ratio of 10:1. This means if you hold 1 share of the company of ₹10 face value, you will receive 10 shares of ₹1 each after the split.
Rights Issue
Three companies having the Rights Issue this week.
A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. This type of issue gives existing shareholders securities called rights.
| Company | Rights Ratio | Premium (Rs) | Issue Price | Issue Open | Issue Close |
|---|---|---|---|---|---|
| Shrydus Industries Ltd | 05:03 | 8 | 18.00 | Jul 5, 2024 | Jul 19, 2024 |
| GACM Technologies Ltd | 01:01 | 0 | 1.00 | Jul 31, 2024 | Aug 14, 2024 |
| Indowwind Energy | 01:05 | 12.5 | 22.50 | Jul 26, 2024 | Aug 5, 2024 |
Bonus Issue
Siddhika Coatings Ltd has announced a bonus issue with a record date and ex-date both set for July 19, 2024. The bonus ratio is 1:1, indicating that shareholders will receive one additional share for each one share they hold.
MM Forgings Ltd is set to implement a bonus issue on July 16, 2024, with both the bonus record date and ex-date aligned. The bonus ratio for this company is 1:1, meaning shareholders will be granted one additional share for each share held.
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