With the beginning of the second quarter of the current financial year, companies listed on the Indian stock market have started announcing their financial results for the first quarter.
Along with these earnings, many companies are also declaring dividends for their shareholders. As the record dates for these dividends come closer, investors are keeping a close watch.
Among them, 3M India has announced a bumper dividend of ₹506 per share for its shareholders. The company has built a strong reputation for rewarding investors with generous dividend payouts.
₹506 Dividend Includes Final and Special Dividend
The total dividend of ₹506 per share consists of a final dividend of ₹160 and a special dividend of ₹346.
The record date for this dividend has been fixed as Friday, July 17.
However, the dividend will be paid only after it receives approval from shareholders at the company’s 39th Annual General Meeting (AGM), which is scheduled to be held in August.
Once shareholders approve the proposal, the company will distribute the dividend within 30 days from the date of the AGM.
Ex-Dividend Date and Last Day to Buy Shares
3M India shares will trade ex-dividend on Friday, July 17. Investors should remember that anyone buying the stock on the ex-dividend date will not be eligible to receive the announced dividend.
To qualify for the ₹506 per share dividend, investors must purchase 3M India shares on or before July 16, which is one trading day before the record date.
3M India Share Price Today
On Tuesday, July 7, 3M India shares were trading slightly lower on the BSE. At 2:11 PM, the stock was priced at ₹35,116.55, down 0.03% or ₹12.25 from the previous close.
During the day’s trading session, the stock touched an intraday low of ₹35,000.00 and an intraday high of ₹35,499.90.
On the BSE, the stock has a 52-week low of ₹28,747.30 and a 52-week high of ₹38,300.00.