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Business News/ Markets / Stock Markets/  IRCTC, ONGC, MRF and more: These 5 dividend paying stocks to trade ex-dividend this week
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IRCTC, ONGC, MRF and more: These 5 dividend paying stocks to trade ex-dividend this week

IRCTC, ONGC are among a host of stocks that will go ex-dividend in the coming week

When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.Premium
When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.

Indian Railway Catering and Tourism Corporation, Oil & Natural Gas Corporation Limited, MRF Ltd, NMDC Limited are among stocks that will trade ex-dividend this week with respect to the interim dividends announced by the companies.

When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.

An ex-dividend date is usually set one or two days before the record date. An ex-dividend date 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:

1) MRF: The tyre manufacturing company has declared an interim dividend of 3 per share and the stock will trade ex-dividend on 21 February. The company has also fixed 21 February as the record date for the purpose of payment of the dividend.

In the past 12 months, MRF has declared an equity dividend amounting to 147 per share. At the current share price, this results in a dividend yield of 0.17%.

2) IRCTC: The railway company has declared an interim dividend of 3.50 per share, which is 175% of the paid-up share capital amounting to 160 crore. The company has fixed 22 February, 2023 as record date for the purpose of payment of the said dividend for fiscal 2022-23.

In the past 12 months, IRCTC has declared an equity dividend amounting to 1.50 per share. At the current share price, this results in a dividend yield of 0.23%.

 

3) ONGC: The oil and gas major has declared a second interim dividend of 4 per equity share to its shareholders for fiscal 2022-23. The company has fixed 24 February as the record date and and the stock will trade ex-dividend on Friday.

In the past 12 months, ONGC has declared an equity dividend amounting to 11.75 per share. At the current share price, this results in a dividend yield of 7.50%.

4) NMDC: The board of NMDC has declared an interim dividend of 3.75 per share. The shares will trade ex-dividend on 24 February and the record date for the same is Friday. NMDC has declared 42 dividends since 28 August, 2002.

5) Power Finance Corporation: The company has announced a dividend of 3.5 per share with record date of 24 February, 2023. The dividend payment date is 14 March.

In the past 12 months, Power Finance Corporation Ltd has declared an equity dividend amounting to 12.50 per share. At the current share price, this results in a dividend yield of 8.42%.

 

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ABOUT THE AUTHOR
Meghna Sen
Business journalist tracking markets, companies, economy and crypto for Livemint. She has 6 years of experience with online and print publications. Email: meghnasen08@gmail.com
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Published: 19 Feb 2023, 07:50 AM IST
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