Home / Markets / Stock Markets /  Dividend paying stock rises after announcement of final dividend

Dividend paying stock: SKF India share price has been continuously rising for last two days after its Board of Directors announced final dividend of 14.50 per equity share for the financial year 2021-22 on 11th may 2022. In last two days, SKF India share price on NSE has surged from 3075 to 3292 per share levels, logging around 7 per cent rise in this period. The mid-cap company has fixed 29th June 2022 as record date for dividend payment.

As per the information available on BSE website, "Pursuant to Regulation 42 of SEBI LODR read with Section 91 of the Companies Act, 2013 including rules made thereunder, Wednesday, 29th June 2022 has been fixed as the Record date for the purpose of forthcoming AGM and Dividend, if declared at the AGM."

The dividend paying company has informed about the development in regard to final dividend payment in its exchange communication citing, "Pursuant to the Regulation30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR "), and further with respect to intimation dated 4'11May 2022 to Stock Exchanges for Board Meeting Scheduled to be held on 11‘hMay 2022, we wish to inform you that Board of Directors of the Company at its meeting held today commenced at 14:00 hrs and concluded at 16:45 hrs, the Board decided to recommend to the members final dividend of Rs.l4.50/- per equity share for the financial year ended 31“ March 2022, which shall be paid/dispatched within 30 days from the date of ensuing Annual General Meeting (‘AGM’), if declared and approved by the members at the AGM."

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Asit Manohar

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