4 Tata group stocks to turn ex-dividend next week: Are you holding any?

Nelco, Tata Power, Indian Hotels, and Voltas are the Tata group companies that are going to trade ex-dividend next week. A record date, or the day on which a shareholder must be reported in the shareholder record of a company in order to be entitled to receive the dividend, is established when a corporation announces a dividend. Furthermore, the stock starts trading without the dividend on the ex-dividend date hence investors will not be eligible to receive the upcoming dividend payment if they buy the shares on or after the ex-dividend date. 

Nelco

“The Board of Directors have recommended a Dividend of Rs. 2.00/- per Equity Share of Rs.10/- each (20%) to the shareholders for the Financial Year 2022-23 subject to the approval of the shareholders at the ensuing Annual General Meeting,” said Nelco in a stock exchange filing.

For the purpose of payment of dividend, if declared by the Members at the Annual General Meeting of the company to be held on Thursday, 22nd June 2023, the record date has been fixed as Tuesday, 6th June 2023.

Tata Group’s satellite communication service provider Nelco Ltd said its consolidated revenue during the quarter ended March 2023, stood at ₹82.8 crore, up 13.1% from ₹73.2 crore during the year-ago quarter. In the March quarter of the fiscal year that concluded in 2023, Nelco recorded a spike in net profit of more than 86 percent year on year, at ₹5.66 crores. Nelco's overall revenue for fiscal year 2023 was ₹315.9 crore, up 19.3% from ₹264.8 crore in fiscal year 22. From ₹16.1 crore in FY22 to ₹19.9 crore in FY23, net profit climbed by 23.4 percent.

On Wednesday the shares of Nelco closed on the NSE at ₹619 apiece up by 1.23% from the previous close of ₹611.45.

Tata Power

The Board of Directors of Tata Power has recommended a dividend of ₹2 per equity share of Re 1 each (@ 200%) to the shareholders for the year ended March 31, 2023. The stock is going to turn ex-dividend on 7th June.

In the March 2023 quarter, Tata Power's consolidated net profit grew by almost 48% to ₹939 crore from the company's net profit of ₹632 crore in the quarter ended March 31, 2022. In Q4FY23, overall revenue increased 6% to ₹12,755 crore from ₹12,085 crore in Q4FY22. In 2022-23 fiscal, its consolidated net profit also rose to ₹3,810 crore from ₹2,156 crore in FY22. Consolidated revenue grew to ₹56,033 crore in 2022-23 fiscal over ₹42,576 crore in FY22.

On Wednesday the shares of Tata Power closed on the NSE at ₹213.30 down by 1.66% from the previous close of ₹216.90.

Indian Hotels Company

The Board of Directors of the company have declared dividend of ₹1 per share for FY23 and the stock is going to turn ex-dividend on 9th June 2023.

The firm recorded a 65% rise in consolidated revenue from operations for the fiscal year FY22-23, from ₹3056.22 crore to ₹5809.9 crore. The company has also reported a 510% grwoth in annual profit of ₹1084.46 crore in 12MFY23 over the previous fiscal loss of ₹264.9 crore in 12MFY22.

On Wednesday the shares of Indian Hotels Company closed on the NSE at ₹389 apiece up by 0.92% from the previous close of ₹385.45.

Voltas

The Board of Directors have recommended Dividend of Rs.4.25 per share on face value of Re.1 per share (425%) for the year 2022-23. The stock is going to trade ex-dividend on 9th June 2023.

In the March 2023 quarter, the company's total net profit fell by 21.6% to ₹143.23 crore, down from ₹182.71 crore in the corresponding quarter last year. Operating revenue climbed by 11.5% to ₹2,936.76 crore in FY 2022–23 from ₹2,633.72 crore in FY 2021–22. While Voltas' total expenses climbed by 13.75% to ₹2,761.45 crore in Q4FY2022-23, its total income increased by 11.08% to ₹3,003.46 crore. 

On Wednesday the shares of Voltas closed on the NSE at ₹821.90 apiece up by 0.01% from the previous close of ₹821.85.