Mazagon Dock Shipbuilders shares to trade ex-dividend tomorrow

Shares of defense PSU Mazagon Dock Shipbuilders are expected to be in focus today, as the company has set September 19 as the record date for determining shareholder eligibility for dividend payments. Consequently, today is the last opportunity to purchase shares to qualify for the announced dividend of Rs 12.11 per share, which was declared earlier in May for the financial year 2023-24.

Later in September, the company announced the record date.

“Pursuant to the Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Transfer of Shares of the Company will be closed for the purpose of the AGM and Dividend from 20″ September 2024 to 26″ September 2024 (both days inclusive) and the Company has fixed Thursday, 19″ September, 2024 as the record date for determining the eligible shareholders entitled to receive the Final Dividend,” the company said in a filing to the exchanges.

In the past 12 months, Mazagon Dock Shipbuilders has declared equity dividends totaling Rs 22.20 per share. With a share price of Rs 4,203, the company’s dividend yield is 0.53%.

Dividends are paid to shareholders listed in the company’s records on the record date. To be eligible for dividends, shares must be purchased at least one day before the ex-date, as transactions settle the following day. Investors who purchase shares on the ex-date do not qualify for dividends.

Mazagon Dock Shipbuilders’ shares have increased by 119% over the last six months and by 85% in the past year. On Tuesday, the shares closed 1.3% lower at Rs 4,193 on the BSE.(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)