Dividend Stocks: On Friday, the stock closed at Rs 798 with a rise of more than one percent.
This company is TRANSPORT CORPORATION OF INDIA. A decision on dividend may be taken in the company’s board meeting to be held on October 30. The company had earlier given dividend of Rs 2 per share in July, Rs 2.5 in February and Rs 2.5 per share in November 2022. The company has been paying dividends in November since 2016.
If dividend is declared this year, its record date could be 30th November. The company has told this in the information given to the exchange. Let us tell you that the highest dividend in the history of the company was also received in the years 2022 and 2023. Dividend of Rs 2.5 was given both times.
The promoters’ stake in the company is 68.94 percent. There has been no change in this since the last 5 quarters. The stake was 2.54 percent in June 2023, which increased to 2.58 percent in September 2023. DIIs i.e. domestic institutional investors are buying shares from December 2022. Their stake was 11.70 percent in December 2022, which increased to 12.87 percent in September 2023.
What is Dividend? The share given to investors in the total profit of the company is called dividend. Dividend is given on per share basis. That is, the more shares an investor has, the higher will be his dividend amount. Investing in a company with a consistently good dividend record is considered safe.
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