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Business News/ Companies / News/  3 PSU stocks in diverse sectors to turn ex-divided this week. Do you own any?
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3 PSU stocks in diverse sectors to turn ex-divided this week. Do you own any?

Cochin Shipyard Ltd, MSTC Ltd, Oil India Limited are the PSU stocks that will turn ex-dividend.

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Cochin Shipyard Ltd, MSTC Ltd, Oil India Limited are among those PSU stocks that will trade ex-dividend this week with respect to the interim dividends announced by them.

When a company becomes ex-dividend, its stock does not carry the value of the next dividend payment.

The ex-dividend date is when the price of the equity shares of a company gets adjusted for the dividend payout. It is one working day before the record date. It also dictates which shareholders are eligible to receive the dividend payment.

Here's the list of dividend paying stocks that will trade ex-dividend this week:

a) Cochin Shipyard: One of the top shipbuilding and repair yards in India, Cochin Shipyard is recognised by the Indian government as a Miniratna I CPSE and one of the top 10 PSUs in the country. 

The company has declared an interim dividend of 7 per share and the stock will trade ex-dividend on 22 February. The company has also fixed 22 February as the record date for the purpose of payment of the dividend. It has a market capitalization 6,430.35 crore.

For the year ending March 2022 Cochin Shipyard has declared an equity dividend of 167.50% amounting to 16.75 per share. At the current share price this results in a dividend yield of 3.43%.

b) MSTC Ltd: MSTC Limited, a Mini Ratna Category-I PSU, has declared an interim dividend of 7 per share and the stock will trade ex-dividend on 22 February. The company has also fixed 22 February as the record date for the purpose of payment of the dividend.

For the year ending March 2022 MSTC has declared an equity dividend of 129.00% amounting to 12.9 per share. At the current share price of 285.60 this results in a dividend yield of 4.52%.

c) Oil India: It has declared a dividend of 10 and the stock will trade ex-dividend on 22 February. The company has also fixed 22 February as the record date for the purpose of payment of the dividend.

For the year ending March 2022 Oil India has declared an equity dividend of 142.50% amounting to 14.25 per share. At the current share price of 260.80 this results in a dividend yield of 5.46%.

There are five important dates for dividends:

1. Declaration date: On this day, the board of directors of the company approves 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 appears 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.

 

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Published: 19 Feb 2023, 06:51 PM IST
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