State-owned Rail Vikas Nigam (RVNL), Cochin Shipyard, and the recently listed Ceigall India, along with 64 other companies, are expected to be in the spotlight today. They have established September 23 as the record date for their dividend payouts.
This means that today is the final opportunity for market participants to purchase shares of these companies to qualify for the announced dividends.
RVNL
The board of RVNL declared a dividend of Rs 2.11 per share earlier in May while declaring its results for the fourth quarter, which ended March 2024. Later, it fixed September 23 as the record date for the purpose.
“This is to inform you that the Board of Directors in their meeting held today i.e. 17th May 2024 inter-alia considered the following: Recommended Final Dividend of Rs. 2.11/- per share (i.e. 2 1.10%) on the paid-up equity share capital for the financial year 2023-24 subject to the approval of the Shareholders at the ensuing Annual General Meeting (AGM),” said the company in a filing.
In the past 12 months, RVNL has declared an equity dividend amounting to Rs 0.36 per share and at the market price of Rs 511.50, the company’s dividend yield is 0.07%.
The shares of RVNL closed 3% lower at Rs 510 on Thursday on BSE.
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Cochin Shipyard
The board of Cochin Shipyard too had declared a dividend of Rs 2.25 per share earlier in the month of May while declaring its results for the fourth quarter ended March 2024 and later fixing September 23 as the record date for the purpose.
“It is further notified that the Board has recommended a final dividend of Rs. 2.25 per equity share of face value of Rs. 5 each, for the financial year 2023-24 subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The final dividend would be paid within 30 days from the date of its declaration at the AGM,” the company filing to the exchanges said.
In the past 12 months, Cochin Shipyard has declared dividends equivalent to Rs 14.50 per share and at the market price of Rs 1,686, the company’s dividend yield is 0.86%.
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