On Monday, April 22, Aegis Logistics (Rs 1.25/share) will go ex-dividend. Moving to Tuesday, April 23, Aster DM Healthcare (Rs 118/share) and Fortis Malar Hospitals (Rs 40/share) will follow suit.
On Wednesday, April 24, Huhtamaki India (Rs 5/share) will trade ex-dividend, while ICICI Securities (Rs 17/share) will do so on Friday, April 26.
The ex-dividend date is when the price of the equity shares of a company gets adjusted for the dividend payout. It is one or two working days before the record date. All the shareholders whose names appear in the company’s list by the end of the record date will be eligible to receive dividends.
Bharat Bijlee (Rs 10 to Rs 5) will undergo a stock split on Wednesday, aiming to enhance stock liquidity. Additionally, Anup Engineering (1:1) will go ex-bonus on Tuesday.
Bonus shares, issued to increase liquidity and lower stock price, will be allocated to shareholders, carrying equal rights as existing equity shares.Meanwhile, the record date for IIFL Finance and Sobhagya Mercantile’s rights issues is set for Tuesday, April 23, 2024.A rights issue is a prevalent form of corporate action where the company invites existing shareholders to buy additional shares in the company at a discounted price within the said period (the cut-off date).
However, as existing shareholders of the company, you do not have an obligation to buy additional shares. If you think the company has a flourishing business, you can apply for the rights issue and increase your stake within the company.
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