Five Indian companies set to trade ex-dividend today

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Five Indian companies set to trade ex-dividend today
Credit: © Reuters.

Today, five stocks listed on the National Stock Exchange (NSE) of India, including Colgate (NS: COLG ) Palmolive (India), Mindspace Business Parks REIT, Shriram Finance, IRB Infrastructure (NS: IRBI ), and MPS, are scheduled to trade ex-dividend.

Colgate Palmolive (India) , a Fast-Moving Consumer Goods (FMCG) major, is planning to distribute a considerable interim dividend of Rs 22 per equity share for FY23-24. This comes after the company reported a Q2 net profit increase of 22.31%, sales growth of 6.09%, and improving Ebitda margins. This represents a substantial 2,200% payout on the face value of Re 1 per share. The dividends are expected to be disbursed from November 21.

MPS has declared an interim dividend of Rs 30 per equity share with a face value of Rs 10, with the record date being today. The company's stock closed at Rs 1,536 on Friday, up by 1.14%.

Mindspace Business Parks REIT has plans to distribute Rs 4.79 per unit which includes interest of Re 0.49 per unit and a dividend of Rs 4.3 per equity share. The face value for each unit is Rs 275.

Shriram Finance's interim dividend stands at Rs 20 per equity share with a face value of Rs 10 for FY23-24. This follows a standalone net profit increase of 12.6% YoY due to a 20% growth in loans and an increased net interest income of ₹4,818.2 crore for Q2. The company also raised its NIM guidance for the year ending March 2024 to 8.5-9%. The record date is also today and the closing share price was ₹2,007.55 on Friday.

Lastly, IRB Infrastructure declared an interim dividend of Rs 0.1 per equity share for FY23-24. This comes after a consolidated net profit rise of 12.24%, a first-half toll revenue increase of 20% across IRB and Pvt InvIT entities, and a total income rise to ₹1,874 crore during Q2. The face value is Re 1 per share and the closing share price was Rs 34.55 on Friday.

The decision of these five companies to trade ex-dividend today reflects their intent to distribute profits back to shareholders in the form of dividends. Investors holding these shares as of the record date will be eligible for the upcoming dividend payouts.

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