From SBI Cards to Hindustan Zinc 3 stocks turning ex-dividend tomorrow: Do you own any?

Dividends are a portion of the company’s profit that is issued among the eligible shareholders in the form of cash or additional shares of stocks. Dividends are often considered a steady source of income generated from stable and profitable companies, as their portion of their earnings is shared with their eligible shareholders. Here are SBI Cards, Hindustan Zinc and Brand Concepts, the 3 stocks that are going to turn ex-dividend tomorrow 29th March 2023.

SBI Cards and Payment Services

“The Board of Directors has inter alia, declared an Interim Dividend of Rs. 2.50/- (Rupees Two and Fifty Paise) (25 %) per equity share (face value of Rs. 10/­ each) of the Company for the financial year 2022-23. The Record Date for the purpose of determining the entitlement of payment of interim Dividend is Wednesday, March 29, 2023 and the said Interim Dividend will be credited/dispatched on or before April 19, 2023,” said SBI Cards in a stock exchange filing.

The shares of SBI Cards and Payment Services closed today on the NSE at ₹711.40 apiece level, down by 0.95% from the previous close of ₹718.25. The stock touched a 52-week-high of Rs 1,028.65 on (17-Aug-2022) and a 52-week-low of ₹655.70 on (20-Jun-2022). 

Commenting on the technical outlook of the stock, Rahul Ghose, Founder & CEO – Hedged, an algorithm-powered advisory platform said “The Sbi Cards stock has very high institutional holdings and its profit after tax(PAT) has also seen a decent growth over the past few quarters. The stock has come to an attractive valuation point with its current price being at 710. The stock has been trading in a narrow range for the past two weeks between 700 and the 740 level. Technically however, the stock has not managed to close above its 20day EMA from October of last year as in a lower top, lower bottom formation on the charts. Any buying that should happen on this stock should only be post a bullish candlestick closing above the 785 level. A breakout above this level will also ensure that the upper trendline in the sloping channel gets decisively broken thereby preventing any fakouts. On the downside, the stock has a strong support around the 650 mark and if one sees a double bottom forming around this level, then they can initiate a short term trade on the stock for the upside.”

Commenting on the technical outlook of the stock, A R Ramachandran, Co-founder & Trainer-Tips2trades said “Despite steady fundamentals in terms of consistent profit growth, instability in the financial services sector worldwide has led to further stress in NBFC stocks like SBI Cards as well. Technically, 760 is very strong resistance on Daily charts. A dip near support zone of 690-700 can be used to buy for target of 760-810 in the near term.”

Hindustan Zinc

“The Board of Directors have approved Fourth interim dividend of Rs. 26/- per equity share i.e. 1300 % on face value of Rs. 2/- per share for the Financial Year 2022-23 amounting to Rs. 10985.83 Crores. The record date for the purpose of payment of fourth interim dividend, as already communicated is Wednesday, March 29, 2023. The fourth interim dividend will be paid within stipulated timelines as prescribed under law,” said Hindustan Zinc in a stock exchange filing.

The shares of Hindustan Zinc closed today on the NSE at ₹329.35 apiece, up by 0.08% from the previous close of ₹329.10. The stock touched a 52-week-high of Rs 383.00 on (19-Jan-2023) and a 52-week-low of ₹242.05 on (06-Jul-2022). 

Commenting on the technical outlook of the stock Rahul Ghose said “Hindustan Zinc is looking better on the charts from a medium term perspective. The stock is trading higher than all its major averages and is also walking the band in the bollinger band indicator. Walking the band is always considered a positive sign for stocks in an uptrend as it confirms the strength of the stocks move. As long as the stock is trading above the 310 mark, one can look for higher levels on this counter. The stock is also fairly valued currently from a EPS/BV metric with and the company has a very low debt to equity ratio as well. “

A R Ramachandran said "Despite very good fundamentals and a low PE ratio, an overall bearish sentiment prevailing in the market has led to a fall in Hindustan Zinc prices. Technically, Hindustan Zinc now has strong support at 320 on the Daily charts. A daily close above resistance of 331.5 could lead to higher targets of 367-395 in the near term."

Brand Concepts

“The Board of Directors has declared interim dividend of Rs. 0.50 per equity share of Face Value of Rs. 10 (5%) for financial year 2022-23. The dividend will be remitted on Monday i.e. 16th April 2023 to the equity shareholders of the Company whose name is appeared on the record date which is 30th March 2023,” said Brand Concepts in a stock exchange filing. As per the data available on BSE, the stock is turning ex-dividend on 29th March.

The shares of Brand Concepts closed today on the BSE at Rs 214.60 apiece level, up by 1.08% from the previous close of Rs 212.30. The stock touched a 52-week-high of Rs 307.85 on (02/01/2023) and a 52-week-low of ₹65.00 on (28/03/2022).