Rs 35 Dividend: Payable By Next Month In August; A Stock Worth For Your Portfolio?

Global enterprise Bayer CropScience possesses primary expertise in the life science domains of agriculture and health care. Since 1896, when it was first established in India, Bayer has been in the country for more than 126 years. With a market valuation of Rs 29,522.46 Cr as of Monday's closing session, Bayer CropScience Limited is the flagship firm of the Bayer Group in India. It is publicly listed on the Bombay Stock Exchange (BSE) and featured in the BSE 500 index.

Bayer CropScience Record Date For Dividend

"Shareholders may note that the Board of Directors at their meeting held on May 23, 2024, has recommended a Final Dividend of Rs 35.00 per Equity Share. Pursuant to Section 91 of the Companies Act, 2013, the Register of Members and the Share Transfer Books of the Company will remain closed from Friday, August 02, 2024, till Friday, August 09, 2024 (both days inclusive) for the purpose of AGM and payment of Final Dividend on the Equity Shares of the Company for the Financial Year ended March 31, 2024. The Final Dividend, if declared at the AGM will be paid on or after Wednesday, August 28, 2024 to those Members whose name appears on the Company's Register of Members as holders of Equity Shares on Thursday, August 01, 2024, and in respect of shares held in dematerialized form, to the Beneficial Owners of the Equity Shares as at the end of the day on the same date as per the details furnished by the Depositories for the purpose," said Bayer CropScience in a statement.

Important Note By Bayer CropScience For Shareholders

"As you may be aware, as per the Income Tax Act, 1961 (Act), amended by the Finance Act, 2020, with effect from April 1, 2020, Dividend Distribution Tax is abolished, and dividend income is taxable in the hands of the shareholders. The companies are required to withhold tax at source from dividends paid to shareholders at prescribed rates (plus applicable surcharge and cess), as may be notified from time to time. The Company shall accordingly deduct the tax from the dividend, if declared, that will be paid to the shareholders in the Financial Year 2024-25 (FY 24-25). This communication provides details of the applicable TDS rate as per provisions of the Act for resident as well as non-resident shareholders. All the shareholders are requested to ensure that their details with reference to valid Permanent Account Number (PAN), Residential status as per Act i.e. Resident or Non-Resident applicable for FY 24-25, Category of their account as per the PAN, email/postal address, Bank details are complete / updated, as applicable, in their account maintained with Depository Participant (in case of Shares held in dematerialised form) and in case of shares held in physical form, complete / update the said details with the Company's Registrar & Share Transfer Agent," the company informed to stock exchanges.

Bayer CropScience Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "BAYERCROP is currently trading at 6600 levels, exhibiting a sideways trend within the range of 6435 to 6710 levels following a strong upward move. The stock finds short-term support at 6435 levels, which coincides with its short-term (20 Day) EMA, providing a crucial support level. Additionally, BAYERCROP is trading above its short-term (20 Day), medium-term (50 Day), and long-term (200 Day) EMA levels, indicating sustained strength and a positive outlook. The consolidation within this range suggests that the stock is poised for a potential breakout."

"On the higher side, if the stock surpasses the upper boundary of 6710, a sharp upward movement towards the target of 7000 levels and beyond can be anticipated. Investors who have been holding the stock from lower levels are advised to maintain their positions, with a trailing stop loss set at 6435 levels to safeguard against potential downside risks while aiming for the 7000 level target," the analyst recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.