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    3 Nifty stocks, including ITC, to trade ex-dividend this week

    Synopsis

    ITC, Infosys and SBI will trade ex-dividend this week. ITC's board recommended a final dividend of Rs 6.75 and a special dividend of Rs 2.75 per equity share. SBI declared a dividend of Rs 11.30 per equity share and the payment date is fixed on June 14. On the other hand, Infosys has announced to pay a final dividend of Rs 17.50 per equity share. The record dates for the dividend payments have also been announced.

    3 Nifty stocks to trade ex-dividend this week. Do you own any?Getty Images
    Shares of three Nity stocks, State Bank of India, ITC, and Infosys, will trade ex-dividend this week.

    ITC's Board has recommended a final dividend of Rs 6.75 and a special dividend of Rs 2.75 per equity share. The dividend, if approved by shareholders at the AGM, will be paid between August 14-17 to eligible members.

    The company has fixed May 30 as the record date to determine the eligibility of shareholders. Together with the interim dividend of Rs 6 per share, the FMCG major would pay a total dividend of Rs 15.50 for the financial year 2022-2023. ITC will trade ex-dividend on May 30.

    Shares of companies trade ex-dividend on the day of 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. An ex-dividend date also dictates which shareholders are eligible to receive the dividend payment.

    In the past 12 months, ITC declared an equity dividend amounting to Rs 6 per share, which results in a dividend yield of 1.35%.

    Meanwhile, SBI's Board declared a dividend of Rs 11.30 per equity share (1130%) for the financial year ended March 2023. The date of payment is fixed on June 14.

    The lender fixed May 31 as the record date for the said dividend payment and will trade ex-dividend on the same date. SBI will trade ex-dividend on May 31.

    Meanwhile, IT services company Infosys has announced to pay a final dividend of Rs 17.50 per equity share for the financial year ended March 31. The record date for the said dividend payment is June 2.

    Infosys has paid an equity dividend of Rs 32.50 per share in the last one year, resulting in a dividend yield of 2.47%. The shares of IT major will trade ex-dividend on June 2.

    The final dividend will be paid to the shareholders whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as of record date



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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