Shares of Esab India Limited will remain in focus on Friday i.e. April 5, 2024, on account of its next corporate action. The company has announced a whopping 240 per cent dividend payment on each stock for the ongoing fiscal year. A dividend is a company's reward to its investors for their investment in the business. It is paid in cash from earnings.
Esab India Limited Dividend 2024 Amount
A dividend is always calculated and paid on the face value of each stock. Accordingly, a 240 per cent dividend translates into Rs 24 per equity share with a face value of Rs 10 each for the financial year 2023-24.
"The Board of Directors of the Company at its meeting has declared Second Interim Dividend of Rs. 24/- per equity share of Rs.10/- each (240 per cent) for the financial year ending 31st March 2024 resulting in an outflow of Rs. 36,94,32,480/- (subject to deduction of tax at the source where applicable)," the company said in an exchange filing
The company has set April 5 as the ex-date for the interim dividend.
Esab India Limited has set April 5 as the record date for determining the eligibility of shareholders' participation in the next dividend or corporate action.
The Second Interim Dividend declared by the Board of Directors will be paid to the equity shareholders on April 24, 2024.
Esab India Limited is a constituent of the S&P BSE 500. According to BSE analytics (as of April 5, 2024), shares of Esab India Limited up by 4.34 per cent and 7.31 per cent in the last 2 weeks and 1 month, respectively. However, the shares of the company fell by 8.22 per cent on a YTD basis. In the past 1 year, 5 years and 10 years, the company's shares climbed by 53.30 per cent, 491.27 per cent and 1081.90 per cent, respectively.
Last year, Esab india Limited announced dividends thrice i.e. of Rs 28, Rs 20 and Rs 32 with an ex-date on February 20, August 3 and November 24, respectively. Similarly in 2022, the company declared dividends of Rs 18, Rs 20 and Rs 30 with an ex-date on February 17, August 3 and November 18, respectively.