2 Latest Dividend Announcements That You Should Take Note Of

Dividend income from shares is enticing as it adds on to your regular income. Nevertheless, investors should look at the long term prospects of a scrip and not get into buying shares just for the dividend announcement. Further, as is the nature of these dividend shares, they to an extent help to offset the downside risk in a stock.

1. Indian Card Clothing:

 The small cap textile products entity on June 27, 2022 declared special interim dividend. In its filing with the exchange the company said, "declared Special Interim Dividend of Rs. 25/- per equity share of face value of Rs. 10/- each to be paid as Special Interim Dividend for the financial year 2022-23".

Along side record date or cut off date for the said dividend has also been intimated and is July 8, 2022.

Furthermore, the board of directors considered and approved the proposal of acquiring balance 40% equity stake in Garnett Wire Ltd., UK - foreign subsidiary of the Company, from the Joint Venture Partner - Joseph Sellers & Son Limited.

Indian Card Clothing founded in 1955 is based out of Pune. The company is a precision engineering company that is into manufacturing and supplying card clothing products and carding solutions for the textile industry.

The stock last traded higher by over 4% at Rs. 285 per share, while its 52-week high is Rs. 332 apiece on the NSE. The stock is a multibagger with 3-year return at 203%.

 

2. Hindustan Aeronautics Limited:

In its board meet held on June 28, 2022, the aerospace and defense entity HAL has recommended final dividend for Fy22. In its filing the company said, "...has recommended final dividend of of Rs. 10/- per equity share of Rs. 10/- each fully paid up (100%) for the Financial Year 2021-22, subject to approval of the members of the Company at the ensuing Annual General Meeting, which shall be paid to the shareholders within 30 days of declaration. Further information in this regard including record date etc. shall be submitted with the concerned stock exchanges in due course".

A day after the dividend recommendation, the stock is trading weak by over 0.5% as against the previous close at Rs. 1797.6.

HAL is a Navratna CPSE aspiring to achieve operational excellence and would strive towards realizing India's long cherished dream of self-reliance in Aerospace & Defence by catalyzing itself through PM's vision of "Make In India".

 

Disclaimer:

The above story is collated just to inform about the recent dividend announcements. Readers should not construe it to be an investment advice into the stocks. Investing in stocks poses risk of financial loss.

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