Rs 8 Final & Rs 5 Special Dividend: Ex-Date - 12th July: Buy For The Cash Reward?

D-Link (India) is a small-cap information technology company with a Rs 2,261.30 Cr market capitalization. The stock shot up to a new 52-week high of Rs 674.90 after opening the day on the BSE at Rs 590 apiece. Later, at Rs 636.90, the stock closed with an upside gap of 7.40%. D-Link (India) stock is showing a buying tendency as it gets closer to its July 12 ex-dividend date, which will provide a dividend of Rs 13 per share.

D-Link (India) Upcoming Dividend

"Your directors have recommended for your consideration the payment of a dividend of Rs 8/- per equity share and a special dividend of Rs 5/- per equity share totalling to Rs 13/- per equity share (face value of Rs 2/- each) for the financial year ended March 31, 2024, to be paid, if approved at the Sixteenth Annual General Meeting," said the company in a stock exchange filing.

The dividend will be paid to all shareholders on or after August 12, 2024, according to D-Link (India).

D-Link (India) Dividend Record Date

"Pursuant to Section 91 of the Companies Act, 2013, Notice is hereby given that the Register of Members and Share Transfer Books of the Company will remain closed from Saturday, July 13, 2024, to Friday, July 19, 2024 (both days inclusive) for the purpose of AGM and entitlement of dividend, if any. The Company has fixed the record date as July 12, 2024, for the purpose of determining the eligibility of members entitled to receive dividends if declared at the AGM. Subject to the approval of the Members at the forthcoming AGM, the Dividend shall be payable within thirty days of declaration of the same to the Members whose names appear on the Company's Register of Members as on the Record Date and in respect of the shares held in dematerialized mode, to the Members whose names are furnished by National Securities Depository Limited and Central Depository Services (India) Limited as beneficial owners as on that date," said D-Link (India) in a statement.

Important Note For Shareholders Regarding Dividend By D-Link (India)

"To avoid delay in receiving the dividend. Shareholders holding shares in physical form are requested to update their details with the RTA before the record date in order to receive dividends directly to their bank accounts on the payout date. The shareholders. holding shares in demat form are required to contact their respective depository participants to update their bank details," the company informed stock exchanges.

D-Link India Share Price Target

KKunal Parar - VP of Technical Research and Algo at Choice Broking said, "The stock is currently trading in uncharted territory with significantly higher than average volume, signaling positive momentum. Furthermore, it has successfully broken out above the upper band of a Rising Channel formation, suggesting strong potential for further upside."

"The stock is also trading above all of its long-term moving averages, indicating a robust uptrend. The daily RSI momentum indicator is trending above its 50 mark, confirming positive momentum and bullish sentiment in the stock. Given this technical setup, we anticipate a strong upside movement in the stock, potentially reaching levels between 720 to 810. Immediate support is identified around 515," the analyst commented.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.