Nestle India, Crisil among 5 stocks that will roll out dividends. Details here
4 min read 22 Feb 2023, 10:00 AM ISTABB India, Nestle India, Crisil, Schaeffler India and Huhtamaki India have declared dividends. The dividends announced range from ₹2 to ₹75. Here's what you need to do to avail it:
PremiumABB India, Nestle India, Crisil, Schaeffler India and Huhtamaki India have declared dividends in December quarter results. If an investor wants to receive dividend from the company, one needs to buy the stock on or before record date.
Here is a list of the companies that have announced high dividends recently with the details. A look at the important dates you need to keep in mind:
a) ABB India: Global technology company ABB India has declared an interim dividend of of Rs.5.50 per share of face value of ₹2 each.
"Recommendation of a dividend of Rs.5.50 per share (Rupees Five and Fifty paisa only) i.e. (275%) on 21,19,08,375 Equity Shares of face value of Rs.2/- each fully paid up for the financial year ended December 31, 2022 subject to approval of Shareholders," the company said in its regulatory filing.
The company said dividend will be dispatched to shareholders whose names will appear on 27 April, 2023.
"The dividend, if declared at the 73rd Annual General Meeting, will be paid/dispatched after May 04, 2023, to those Shareholders or their mandates whose names appear as Members in the Company/s Register of Members as holders of Equity Shares as at the end of the business hours on April 27, 2023 and in respect of shares held in electronic form, to whose names appear as Beneficial Owners as at the end of the business hours on April 27, 2023 as per details to be furnished by National Securities Depository Ltd. and Central Depository Services (India)," the filing added.
ABB India reported a 62.3% year-on-year jump in net profit at ₹306 crore for the quarter that ended 31 December, 2022.
b) Nestle India: The FMCG major has declared a final dividend of ₹75 per share of ₹10 each.
"The Board of Directors recommended final dividend for the year 2022 of Rs. 75/- (Rupees Seventy-Five only) per equity shares of Rs. 10/- each," said Nestle in its filing.
The company has also fixed 12 April, 2023 as the record date for the purpose of payment of the dividend.
Nestle India reported a net profit of ₹628 crore in the fourth quarter of CY22 (Q4CY22), up 66% year-on-year (YoY). It was ₹379 crore in the year-ago period.
c) Crisil: The company has declared finial dividend of ₹23 per equity share of face value of ₹1. The company has fixed 1April and 2 April as the book closure date which will include the dividend benefits. That being said, CRISIL shares will turn ex-dividend on 31 March, 2023.
"The Board of Directors has also recommended final dividend of Rs. 23, per equity share of face value of Re 1 each, for the financial year ended December 31, 2022, subject to the approval of the shareholders at the ensuing Annual General Meeting," said Crisil in its filing.
The rating agency, Crisil posted a consolidated net profit of ₹158 crore, rising by 17.5% from ₹134.5 crore in the corresponding quarter of the previous year.
d) Schaeffler India: The company has recommended a dividend of ₹24 per equity share of face value ₹2 each. The dividend if declared by the shareholders will be paid within 30 days from the date of AGM scheduled for 18 April, 2023.
"Recommend a dividend of ₹24 per equity share of face value of ₹2 each. The dividend for the year ended December 31,2022 if declared by the shareholders at the ensuing Annual General Meeting (AGM) shall be paid within 30 days from the date of AGM," said Schaeffler India in its filing.
f) Huhtamaki India: The company has recommended a dividend of ₹2 per share having a face value of ₹2. Huhtamaki India shares will turn ex-dividend on 20 April, 2023.
“Recommended payment of dividend at ₹2/ per equity share of face value of Rs. 2/- each (100%), for the financial year ended 31st December 2022 subject to the approval of the shareholders at the ensuing 73 Annual General Meeting. Register of Members and Share Transfer Books shall remain closed from Friday, 21st April 2023 to Tuesday, 4th May 2023 (both days inclusive) for the purpose of payment of Dividend for the Financial Year ended 31st December 2022." said Huhtamaki India in its filing.
There are five important dates for dividends:
1. Declaration date: On this day, the board of directors of the company approve the dividend rate per equity share.
2. Record date: This date is also proposed by the company's board to identify the names of eligible shareholders for dividend benefits. All the shareholders whose name appear in the company's list by the end of the record date will be eligible to receive dividends. Usually, a minimum gap of 5 clear working days is needed between the declaration date and the record date.
3. Cum-Dividend Date: This is the last date to buy shares to be eligible to receive a dividend. This date is one day prior to the ex-dividend date and two days before the record date.
4. Ex-dividend date: This day the price of the equity shares of a company gets adjusted for the dividend payout. It is one working day before the record date.
5. Payment date: This date is the actual day when a listed company completes its dividend payout to eligible shareholders. The payment of dividends is usually completed within 30 days of its approval.
