MRF to trade ex-dividend tomorrow, last chance for Rs 194 dividend eligibility
MRF will likely remain in focus today as the company along with its Q4FY24 results, declared a dividend of Rs 194 per share for its eligible shareholders.
The company had fixed July 25 as the record date for this purpose, according to StockEdge data. This means that today is the last date to buy the shares of the company in order to be eligible for the dividend payment.
“The Board of Directors have recommended a final dividend of Rs 194/- (1940%) per share of Rs.10 each. The Company has already declared and paid two interim dividends of Rs.3/- (30%) each per share for the financial year ending 31st March 2024. The total dividend for the financial year ended 31st March 2024 works out to Rs. 200/- (2000%) per share of Rs.10 each,” said MRF in a filing to the stock exchanges.
Before this, MRF has declared 3 dividends in the last one year. Out of these, 2 dividends were interim dividends of Rs 3 each, paid out in February 2024 and November 2023, while a final dividend of Rs 169 was paid in July last year.
Also read: PFC, MRF among 115 stocks to trade ex-dividend this week. Do you own any?
Dividends are paid to shareholders whose names appear in the company's database on the record date. After the implementation of the T+1 framework, the record date and ex-date are the same in most cases unless there is a market holiday after the ex-date.
Shareholders who buy the stock at least one day before the ex-date are eligible for dividends as settlement happens the next day. Those buying the stock on the ex-date are not
