Dividend, Buyback today: Benchmark equity indices, BSE Sensex and NSE Nifty50, are likely to kickstart the week’s first trading session on a positive note, buoyed by strong global cues. Global markets are rallying after US Fed Chair Jerome Powell signalled a potential rate cut in September.
Meanwhile, traders and investors will be closely watching Dhruv Consultancy Services, and Manappuram Finance as their shares will trade ex-dividend today. A dividend is a portion of a company’s profit distributed to its shareholders, usually paid quarterly or annually, and can provide a regular source of income for investors. The eligibility for the dividend payout on the ex-dividend date depends on whether an investor owns the company’s stock before or on that date.
Dhruv Consultancy Services: As per data available on exchanges, shares of the infrastructure consultancy company will trade ex-dividend today as the company has announced a dividend of Re 0.25 per equity share (0.25 per cent of face value Rs 10) for FY24. The record date is August 26, 2024. On Friday, shares jumped 5 per cent to close at the upper circuit of Rs 149.46, also its 52-week high on the NSE.
Manappuram Finance: Shares of the leading gold loan NBFC will trade ex-dividend today as the company has announced a dividend of Re 1 (0.50 per cent of face value) for its shareholders. The record date for the dividend announcement is also today, August 26, 2024. Shares ended the previous week’s last trading session down 0.65 per cent at Rs 215.40 on the BSE.
Besides these, shares of VLS Finance will remain in focus as they will trade ex-date today for a buyback of up to 33,00,000 fully paid-up equity shares at Rs 380 per share, totaling Rs 125 crore (representing about 9.48 per cent of the total equity share capital).
Additionally, traders will be closely watching Trent, and Bharat Electronics, which are set to be included in the Nifty 50 index, replacing Divi’s Laboratories, and LTIMindtree, effective from September 30, 2024.
First Published: Aug 26 2024 | 8:52 AM IST
