Dividend stocks: Ashok Leyland shares to trade ex-dividend today

Dividend stocks: Shares of Ashok Leyland Ltd, Iykot Hitech Toolroom Ltd, Shiva Cement Ltd, and Sunrise Efficient Marketing Ltd will be in focus when the stock market opens on April 3 (Wednesday).

The Board of Directors of the 4 companies have declared an interim dividend, rights issue, and bonus issue for their eligible shareholders.

Also Read | Stock market today: Hindustan Copper under F&O ban list today

The record date by the 4 companies to ascertain the eligibility of shareholders for their respective issues has been fixed on April 3. 

ALSO READ: Nifty April series outlook: 4 stocks where investors can park their money; do you own?

Interim Dividend

Ashok Leyland: The company has declared an interim dividend of ₹4.95 per equity share.

In a stock exchange filing, Ashok Leyland said: “The Board of Directors of the Company, at their meeting held today, has declared an Interim Dividend of ₹4.95 per equity share of Re 1 each, for the financial year ending 2023-24.”

“Further, as intimated vide letter dated March 20, 2024, the Record date to determine the Members eligible to receive Interim Dividend is Wednesday, April 3, 2024. The said interim dividend, would be paid, on or before April 23, 2024,” it added.

Shares of Ashok Leyland will trade ex-dividend on Wednesday.

Rights issue

Iykot Hitech Toolroom: The company has declared a rights issue of fully paid-up equity shares.

According to a stock exchange filing by Iykot Hitech Toolroom, up to 1.41 crore fully paid-up equity shares of face value of ₹ each are to be issued in the rights issue.

ALSO READ: More stock market news

The issue price has been fixed at ₹7 per rights equity share (including a premium of ₹2 per rights equity share and a face value of ₹5 each). The rights issue size is ₹ 993.72 lakh.

Shiva Cement: The company has declared a rights issue of equity shares.

In a stock exchange filing, Shiva Cement said the Board of Directors approved the “issuance of fully paid-up equity shares of the Company (the “Rights Equity Shares”) for an amount aggregating up to ₹ 400 crore by way of a rights issue (“Rights Issue”).”

A total of 10 crore rights equity shares each on a fully paid basis to be issued in the rights issue. 

The rights issue price has been fixed at ₹ 40 per rights equity share.

Shares of Iykot Hitech Toolroom and Shiva Cement will trade ex-rights on Wednesday.

Bonus Issue

Sunrise Efficient Marketing: The company has declared a bonus issue in the ratio of 1:2.

Shares of Sunrise Efficient Marketing will trade ex-bonus on Wednesday.