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Shares of the leading FMCG giant Dabur India (NS:) will trade ex-dividend on Thursday as its board announced an interim dividend of 250% on Oct 26, while releasing the earnings results of the September quarter.
The Chyawanprash-producer informed the stock exchanges in a regulatory filing last week that its board of directors approved and declared an interim dividend of Rs 2.5/share having a face value of Re 1 apiece, i.e. 250% for FY23.
The record date for the corporate action has been set on November 4, 2022. This implies that the large-cap consumer goods company will determine the shareholders eligible to receive the dividend benefit on Friday.
In order to receive the dividend benefit, individuals must have bought the shares of Dabur India before the ex-dividend date, i.e., Nov 3, or two days prior to the record date.
The company will make the dividend payment to eligible shareholders from Nov 17 onwards.
According to InvestingPro data, a total of 38 analysts covering the FMCG stock have a target price of up to Rs 720/share set on it, which is a 28% upside compared to Dabur India’s closing price on Wednesday.
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