Rs 130/Share Dividend: Smallcap Stock To Trade Ex-Dividend On July 28 For 1300% Dividend Payout

Smallcap stock, ICRA will be in focus in the trading week from July 24th to 28th as it will turn ex-dividend. The rating agency is set to pay a dividend of a whopping 1,300% aggregating to Rs 130 per share for which it will determine eligible shareholders on the record date of July 28. Hence, ICRA will trade ex-dividend on Friday next week.

ICRA has announced a dividend of Rs 40 per share having a face value of Rs 10 each. Along with this, a special dividend of Rs 90 per share having a face value of Rs 10 each will also be paid. In total, ICRA will carry a dividend payout of 1,300% for the financial year ended March 31, 2023.

The record date to determine the eligible shareholders for Rs 130 dividend per share is set on July 28. Hence, only those investors will benefit from this dividend payout if ICRA shares are visible in their DEMAT accounts by the end of July 28.

The ex-dividend date is the same as the record date for ICRA dividends due to the 'T+1' settlement type that stock exchanges follow.

The Rs 130 per share dividend is subject to shareholders approval in the ensuing annual general meeting (AGM). If declared at the ensuing
AGM, the company will dispatch the dividends on or before Friday, August 25, 2023.

On Friday, ICRA shares closed at Rs 5506.85 apiece, down by Rs 21 apiece or 3.8% on BSE. However, in the trading week that ended on July 21, ICRA shares have gained by Rs 77.10 or 1.42% on the exchange.

At the current market price, ICRA has a dividend yield of 2.37%.

The FY23 dividend payout is 364.29% higher from the dividend of Rs 28 per share (280%) paid in FY22.

Recently, in May, the company announced that its subsidiary ICRA Analytics has recommended a dividend of Rs 27 per share having a face value of RS 10 each. The total recommended dividend works out to Rs
26.87 crore.

ICRA is scheduled to announce its financial results for the quarter ending June 30, 2023 (Q1FY24) period on August 3, 2023.