Shares of Manappuram Finance and Rossari Biotech traded ex-dividend on Wednesday, May 24. Manappuram earlier announced an interim dividend of Re 0.75 per equity share.
The company set May 24 as the record date to ascertain the entitlement of interim dividend among the shareholders. The dividend will be paid or dispatched on or before June 10.
Shares of companies trade ex-dividend on the day of the record date or a day before. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.
In the past 12 months, Manappuram Finance declared an equity dividend amounting to Rs 3 per share. This results in a dividend yield of 2.70%.
In the March quarter, Manappuram Finance reported a 59% growth in its consolidated net profit at Rs 415 crore. Revenue from operations, Meanwhile, Rossari Biotech declared a final dividend of 25%, which is Re 0.50 per equity share for the financial year ended March 2023.
The company has also set May 24 as the record date for the payment of the final dividend. Rossari Biotech has paid a meagre Rs 0.5 per share as equity dividend in the last 12 months. At the current CMP levels, this results in a dividend yield of 0.07%. The shares of the company ended 0.62% higher on Tuesday at Rs 710.5 on NSE. So far this ye ..