2 Stocks That Are Soon To Pay Special Dividend

Dividend is known to all of us as extra income distributed by the listed entity to its shareholders. And on certain special events or to commemorate some occasion. Also, the special dividend is a non-recurring payment and is generally distributed in accordance with the special intent of the firm.

Feature of special dividend

Less frequent
Non-recurrent
Usually larger than the interim or final dividend

1. Balkrishna Industries:

The company in its board meet on February 14 has declared 3rd interim dividend of Rs. 4 per share on the share of Rs. 2 for the financial year 2022. Further the company also announced a special dividend of Rs. 12 per share. The said dividend has been announced on the occasion of Diamond Jubliee. i.e. 60th year of the Company is declared by the Board for financial year 2021-22.

"And the payment thereof shall be credited/dispatched within 30 days from the date of declaration as per applicable provisions of Companies Act, 2013, to such shareholders as on Record Date i.e. 22nd February, 2022", said the filing.

Balkrishna Industries is a mid cap company operating in the business segment of tyres. The company is into the production of a range of off-highway tires that includes agricultural, industry, material handling, forestry, lawn and garden, construction and earth moving tires.

2. Suven Pharmaceuticals:

This is a small cap pharma company and the board has declared an interim dividend of Rs. 1 per share as well as one time special dividend of Rs. 2 per share (200% of Face value of Rs.1.00), totaling to Rs. 3.00 per equity share (300%of Face value of Rs. 3.00 each) for the financial year 2021-22. The scrip has turned ex-date today and the record date for the same is February 16, 2022.

The payment date for the above dividend shall be on and from 22nd February 2022.The payment date for the above dividend shall be on and from 22nd February 2022.