Several prominent companies are making headlines this week with significant corporate actions, including interim dividends and strategic restructuring plans. As we approach their record dates, investors should pay close attention to the developments involving ICICI Securities, TVS Motor, REC, and Mishra Dhatu Nigam. Notably, ICICI Securities is set to merge with ICICI Bank, which will have implications for shareholders.
ICICI Securities: A Major Merger
ICICI Securities Ltd. is poised for a significant transformation as it prepares to merge with ICICI Bank Ltd. This merger, approved by the National Company Law Appellate Tribunal on March 10, means that trading for ICICI Securities will cease starting March 24. Shareholders of ICICI Securities will receive 67 shares of ICICI Bank for every 100 shares they own, based on the agreed swap ratio.
- Record Date: March 24
- Current Share Price: Rs 896.2, reflecting a 1.7% increase recently
- Annual Growth: 17.68% over the past year
TVS Motor’s Dividend Announcement
TVS Motor Company has declared an interim dividend of Rs 10 per share for the fiscal year ending on March 31. This dividend payout totals Rs 475 crore, with the record date set for March 26. Payments will be distributed within 30 days following the announcement.
- Current Share Price: Rs 2,413.85, up 2.86%
- Annual Performance: 17.46% increase in the past year
REC Ltd.’s Continued Payouts
REC Ltd., a key player in financing power projects across India, has announced its fourth interim dividend of Rs 3.60 per share for the 2024-25 fiscal year. The record date for this dividend is also March 26, and payments will be processed by April 16. Previously this fiscal year, REC declared dividends of Rs 4.30, Rs 4, and Rs 3.50.
- Current Share Price: Rs 428.95, down 0.02%
- 12-Month Performance: Decrease of 4.73%
Mishra Dhatu Nigam’s Dividend Declaration
Mishra Dhatu Nigam, a state-owned enterprise known for manufacturing metals and alloys, has announced an interim dividend of Rs 0.75 per share for 2024-25. The record date for this dividend is set for March 25. This company has not declared any other dividends in the current fiscal year.
- Current Share Price: Rs 286.58, higher by 1.13%
- Annual Decline: 22.14%
Conclusion
As these companies prepare for upcoming corporate actions, investors are encouraged to stay informed about the record dates and dividend announcements. The financial landscape continues to evolve, emphasizing the importance of strategic planning and investor awareness in navigating these changes. For further updates on corporate actions, consider following our dedicated finance section.
