Dividend Stocks This Week: SAIL, IGL, R Systems Among Stocks Going Ex-Dividend From September 28
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SAIL, IGL, R Systems International and other stocks are set to go ex-dividend this week, with key dividend dates falling between September 29 and October 1. The week also features bonus issues, a Natco Pharma rights issue and the K M Sugar Mills demerger.
Dividend Stocks This Week: Several Indian stocks are set to turn ex-dividend this week, with SAIL, Indraprastha Gas (IGL), R Systems International and Saraswati Saree Depot among the companies with dividend-related corporate actions scheduled between September 29 and October 1.
The dividend-related activity begins on September 29 with Leo Dryfruits & Spices Trading. Steel Authority of India (SAIL) and Saraswati Saree Depot are scheduled to turn ex-dividend on September 30, followed by IGL, R Systems International, Goenka Business & Finance and Sainik Finance & Industries on October 1.
Here are the key dividend stocks and their scheduled payouts for the week:
Dividend Stocks This Week
Stock | Ex-Dividend Date | Dividend Per Share | Dividend Type |
|---|---|---|---|
Leo Dryfruits & Spices Trading | September 29 | ₹0.50 | Final dividend |
Steel Authority of India (SAIL) | September 30 | ₹2.35 | Final dividend |
Saraswati Saree Depot | September 30 | ₹3 | Interim dividend |
Indraprastha Gas (IGL) | October 1 | ₹1.50 | Final dividend |
R Systems International | October 1 | ₹8 | Interim dividend |
Goenka Business & Finance | October 1 | ₹0.50 | Final dividend |
Sainik Finance & Industries | October 1 | ₹0.50 | Interim dividend |
SAIL has declared a final dividend of ₹2.35 per share, while Saraswati Saree Depot will have a ₹3 per share interim dividend going ex-dividend on September 30.
R Systems International has the highest dividend payout among the companies listed above at ₹8 per share. IGL has declared a final dividend of ₹1.50 per share, while Leo Dryfruits & Spices Trading, Goenka Business & Finance and Sainik Finance & Industries have dividends of ₹0.50 per share.
The market will remain closed on October 2 on account of Gandhi Jayanti. As a result, October 1 will be the final trading session of the week for these corporate actions.
Bonus Shares This Week
The week also has bonus-related activity. Aastha Spintex has a 1:1 bonus issue with September 28 as the ex-bonus date.
Maestros Electronics & Telecommunications Systems is scheduled for a 1:1 bonus issue, with October 1 as the key date.
A 1:1 bonus issue means eligible shareholders will receive one additional share for every one share held, subject to the company's specified eligibility date.
Natco Pharma Rights Issue
Natco Pharma is scheduled to have October 1 as the record date for its proposed rights issue. The company plans to raise up to ₹1,279.36 crore through the issue.
The rights issue comprises up to 17,058,082 equity shares priced at ₹750 per share. Eligible shareholders will be entitled to apply for two rights shares for every 21 shares held.
The issue is scheduled to open on October 12 and close on October 22.
K M Sugar Mills Spin-Off
K M Sugar Mills is also scheduled for a corporate restructuring action this week. Under the approved scheme, the company's distillery business is being transferred to K M Spirits and Allied Industries.
The scheme is scheduled to become effective on October 1, while October 2 has been fixed as the record date. Eligible shareholders will receive one share of K M Spirits and Allied Industries for every five shares of K M Sugar Mills held.
With dividend, bonus, rights issue and demerger-related actions lined up, September 29 to October 1 will be the key period for investors tracking corporate actions before the October 2 market holiday.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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