Large Cap, Midcap Banking Stocks To Trade Ex-Dividend In July; Do You Own Any?

Stocks that regularly give investors a share of their earnings are known as dividend stocks. Due to the established nature of dividend-paying companies, dividend stocks may also bring some stability to your portfolio. Here we have highlighted two banking stocks that are set to trade ex-Dividend in July.

1. Axis Bank

The Board of Axis Bank in a Board meeting held on April 27, 2023, recommended a final dividend of Re. 1/share of face value of Rs. 2 each i.e. 50% for the financial year 2022-23.

"Recommended a final dividend of Re.1/- per equity share of face value of Rs. 2/- each (50%) for the financial year ended March 31, 2023, subject to approval of the members of the Bank at the ensuing 29th Annual General Meeting ("AGM"). The dividend, if approved by the members, will be paid on or after five days from the date of conclusion of the ensuing AGM," the Bank said in an exchange filing.

On June 14, 2023, the Board fixed Friday, July 7, 2023 as the record date to determine the members who will be eligible for final dividend.

Stock Outlook

On Tuesday, the stock of Axis Bank closed 1.42% higher at Rs 973.45 apiece on BSE. The stock traded the intraday high at Rs 975.70 apiece and the intraday low at Rs 961 apiece.

The stock traded its 52-week high on June 13, 2023, at Rs 989.50 apiece, while the 52-week low on June 30, 2022, at Rs 622.30 apiece.

The stock declined 0.10% in the past 1 week. It jumped 5.02% in the past 1 month and 16.87% in the past 3 months, respectively. The stock jumped 52.82% in the past 1 year. It jumped 127.02% in 3 years. In 5 years, it jumped 91.78%.

Axis Bank is a large-cap private sector bank with a pan-India presence. It has a market capitalisation of Rs. 2,99,772.02 crore.

2. Equitas Small Finance Bank

The Board of Directors of Equitas Small Finance Bank (ESFB) in a Board meeting held on May 05, 2023, recommended a dividend of Re. 1 each of Rs 10 each fully paid up.

"the Board of Directors in the aforesaid meeting has recommended a dividend of Re.l/- per equity share of Rs.10/- each fully paid-up subject to the approval of the Members at the ensuing Annual General Meeting ("AGM") of the Bank," the Bank said in an exchange filing.

On June 14, 2023, the Board fixed Friday, July 28, 2023, as the Record date for payment of Dividend.

Stock Outlook

The stock of ESFB last traded at Rs 86.25 apiece on BSE, up 1.70% from its previous close of Rs 84.81 apiece. The stock touched the intraday high at Rs 85.26 apiece and the intraday low at Rs 85.26 apiece.

The stock traded its 52-week high on June 21, 2023, at Rs 90.58 apiece and 52-week low on July 06, 2022, at Rs 38.45 apiece, respectively.

The stock declined 2.61% in the past 1 week. It jumped 2.18% in the past 1 month and 38.55% in the past 3 months, respectively. It gave 118.63% multibagger return in 1 year. In 2 years, it gave 47.31% positive return in 2 years.

ESFB is a Small Financial Bank that offers banking products and services to customers in India. It is a mid-cap bank with a market capitalisation of Rs 9,601.63 crore.

Disclaimer

The above-mentioned 2 banking stocks are set to trade ex-dividend next month. This is purely informational. Investors should not this information as an advisory to invest. Greynium Information Technologies and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before making any investment decision.