Rs 130 DIVIDEND: Auto ancillary stock to trade ex-date on July 4; do you own?

rs 130 dividend: auto ancillary stock skf india to trade ex-date on july 4; do you own?

Rs 130 DIVIDEND: Shares of an auto ancillary company is set to trade ex-date for a final dividend of Rs 13 per equity share on Thursday, July 4. The company, which manufactures bearings, seals, lubrication systems, and power transmission systems, had recommended the dividend during the announcement of its fourth quarterly results for fiscal 2024.

The company under discussion is SKF India and it has a strong history of paying dividends to its shareholders. It has paid total 25 dividends since February 2001, post-listing.

SKF India Dividend 2024

"The Board decided to recommend to the members a final dividend of Rs. 130/- per equity share for the financial year ended 31st March 2024," said the company in an exchange filing.

Dividend refers to a reward, cash or otherwise, that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment, stocks or any other form. A company’s dividend is decided by its board of directors and it requires the shareholders’ approval. However, it is not obligatory for a company to pay dividend. Dividend is usually a part of the profit that the company shares with its shareholders.

SKF India Dividend 2024 Record Date

SKF India has fixed the record date to determine the eligibility of shareholders who would be entitled to receive the dividend as July 4.

"Thursday, 04th July 2024 has been fixed as the Record date for the purpose of forthcoming AGM and Dividend, if declared at the AGM," said the company in the filing.

SKF India Dividend 2024 Payment Date

SKF India has not yet fixed any particular date for the distribution of its forthcoming dividend. However, it said that the dividend "shall be paid/dispatched within 30 days from the date of ensuing Annual General Meeting (‘AGM’), if declared and approved by the Members at the AGM."

Payment date is the date when the shareholders receives the dividend amount in their bank accounts.

The 63rd Annual General Meeting ('AGM') of the company for the fiscal year 2023-24 will be conducted via Video Conferencing ('VC')/Other Audio-Visual Means ('OAVM') on Tuesday, August 13, 2024, at 3:00 PM, SKF India informed.

SKF India Dividend History

In calendar year 2023, SKF India paid Rs 40 dividend per share. In 2022 and 2021, the company paid Rs 14.5 dividends per share each year. In 2020, the auto ancillary stock paid Rs 130 as special dividend.

SKF India Share Price Today

Shares of SKF India on Monday, July 1, closed higher by 1.04 per cent at Rs 6,535.05 apiece on NSE. During the session, it touched an intraday high of 6,673.90 and an intraday low of Rs 6,485.

About 45,689 shares changed hands on NSE and 2,091 shares on BSE.

So far in 2024, the stock has rallied 42.5 per cent. In the last three months, it delivered a return of nearly 50 per cent.