By Malvika Gurung
Investing.com -- The auto ancillaries company SKF India (NS: SKFB ) will remain under focus this week as its shares are scheduled to turn ex-dividend for the financial year ended March 31, 2023.
According to Investing.com's ‘Dividend Calendar’, the roller-bearing stock will begin trading ex-dividend on Thursday, June 29, 2023.
The Board of Directors of SKF India had recommended a final dividend of Rs 40 per equity share for the financial year 2022-23 while releasing its financial earnings for the March-ended quarter.
The corporate reward is subject to the approval of the auto-engineered solutions provider’s shareholders at its 62nd Annual General Meeting (AGM) to be held on August 2, 2023, through video conferencing.
The mid-cap company’s Board of Directors has approved to pay the aforementioned dividend to shareholders holding SKF India’s shares as of the close of business hours on the record date of June 29, 2023.
The final dividend, if declared at the AGM, will be dispatched or paid to eligible shareholders within 30 days from the date of the ensuing AGM.
Shares of SKF India have gained 2.1% in the past week, and have added over 47% in the past one year’s period. Its shares closed 0.31% lower at Rs 4,878.9 apiece on Friday.
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