Dividend Stocks: Shares of KEI Industries and Tanla Platforms remained in focus on Friday, January 27 ahead of the record date for the dividends announced by these two companies.
Both companies declared interim dividends along with their financial results on January 21.
Since the record date is fixed for Monday, January 27, today is the last day to purchase shares of the company to be eligible for the dividend. Companies are liable to pay dividends to those investors whose names appear on the shareholders' list as of the record date. Given the T+1 settlement cycle, investors need to buy the shares of companies a day prior. Therefore, today is the last day to buy shares of KEI Industries and Tanla Platforms to be eligible for dividend payments.
KEI Industries, a manufacturer of cables and electric wires, on January 21 announced an interim dividend of ₹4 per share of face value of ₹2 each for the financial year 2024-25 (FY25). The company fixed Monday, January 27 as the record date for the payment of said dividend.
"Pursuant to Regulation 30 and Regulation 43 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company has approved the declaration of an interim dividend of Rs. 4.00/- (i.e., @ 200%) per equity share of face value of Rs. 2.00/- each for the financial year 2024-25. Further, as per Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the record date for the purpose of determining the equity shareholders entitled to receive the interim dividend for the financial year 2024-25 has been fixed as Monday, the 27th day of January, 2025," said KEI Industries in a filing.
In the past 12 months, KEI Industries has declared equity dividend amounting to ₹3.50 per share. Since August 2021, it has declared 24 dividends, shows Trendlyne data.
KEI Industries share price has risen 48% in the last one year, 7% in six months and 10% in three months.
At 9.50 am, KEI Industries stock was down 0.34% at ₹4,465.65.
Tanla Platforms announced an interim dividend of ₹6 per share of face value of Re 1 each for FY25, while fixing the record date as Monday, January 27.
"Pursuant to Regulation 30, 33, and 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company, at its meeting held on Tuesday, January 21, 2025, inter-alia, considered and approved the Declaration of interim dividend for the FY 2024-25 at the rate of ₹ 6/- per equity share (i.e., 600%) of face value ₹ 1/- each," said Tanla Platforms in a filing.
The payment of interim dividend shall be made on or before February 20, 2025, the company informed further.
In the past 12 months, Tanla Platforms declared an equity dividend amounting to ₹12 per share. Meanwhile, since March 2007, Tanla Platforms has declared 17 dividends.
On a one-year basis, Tanla Platforms share price has plunged 45% while it is down 34% in six months and 18% in three months.
At 10.13 am, Tanla Platforms share price was trading 0.58% lower at ₹614.35 apiece.
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