Infosys, IndusInd Bank among 7 stocks that turned ex-dividend today

Shares of Infosys, IndusInd Bank, Mahindra CIE Automotive, Havells India, JSW Energy, Page Industries and Steelcast trade ex-dividend on Friday.

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.

The Board of Infosys recommended 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. The dividend will be paid on July 3.

Meanwhile, private lender IndusInd Bank earlier recommended a final dividend of Rs 14 per equity share for FY23, subject to the approval of the shareholders at the annual general meeting (AGM). The bank has also fixed June 2 as the record date for the said dividend payment.

With a market cap of Rs 17,572 crore, Mahindra CIE Automotive is an auto components and equipment manufacturing firm. The company has turned trade ex-dividend today with respect to a final dividend of Rs 2.5 per share (25% of face value). Indian multinational electrical equipment company Havells India tuned trade ex-dividend for a final dividend of Rs 4.5 per equity share. The firm has a market capitalization of Rs 83,833 crore.

JSW Energy had announced a final dividend of Rs 2 per share while Page Industries had announced an interim dividend of Rs 60 per equity share (600% of face value). The record for the dividend is June 2, and the stock also turns ex-dividend on June 2.

Steelcast announced a special dividend of Rs 3.15 per equity share (63% of face value). The ex-dividend date and record date for the dividend is June 2. Shares of Steelcast rose 2.4% to Rs 500 apiece on BSE.