A number of corporate actions are lined up for the next week to November 27, 2021. From Ques Corp interim dividend of Rs. 4, ONGC's interim dividend of Rs. 5.5, Glenmark Life and CAMS' interim dividend to Oil India's final dividend of Rs. 3.5. Likewise, there are scheduled board meetings of different companies during the week for various agendas. These corporate actions or events carried out by companies materially impact the company's stakeholders including shareholders.
Here we discuss 3 such corporate actions lined up for next week:
1. Tide Water Oil Company (India) Ltd.:
Incorporated in 1928, the company is among the top players in the lubricant industry. Veedol lubricant brand is manufactured and marketed by the company. The company's range of auto products includes engine oils, gear oils, transmission oils, coolants, and greases for automobiles. The company also offers products for industrial application including industrial oils, greases, and specialty products.
The company has a decent dividend track record and on November 12, 2021 it has announced an interim dividend of Rs. 20 per share (dividend %-1000%) and for the same the stock shall turn ex-dividend on November 22. For the Fy 21, the company declared a dividend of 6000% amounting to Rs. 300 apiece. Considering current market price of Rs. 1669 apiece on the NSE, the dividend yield comes to be 7.19%.
2. Morganite Crucible (India) Ltd.:
This is a small cap company from the cement-products and building materials segment. Formerly known by the name Greaves Morganite Crucible Limited, the company is based out of Aurangabad. The company is engaged in the manufacture and sale of crucibles and allied refractory products.
On November 12, the company announced a special dividend of Rs. 42 per share (dividend -840%) for which the ex-date is November 24. Between 2015-2021, the company has announced dividend 7 times.
3. Seacoast Shipping Services:
The company into ground freight and logistics services is again a small cap scrip with the latest m-cap of Rs. 602 crore. The company's board meeting is scheduled to be held on November 24, 2021. In an exchange filing, the company informed that the meeting of the Board of Directors of the Company is scheduled on 24/11/2021, inter alia, to consider and approve the sub division of face value of equity shares of the company.
In the story, there are listed the various corporate actions to be carried out by these companies and is not a recommendation to buy into these company stocks. Stock market investment poses financial risk.