ICICI Bank and Reliance Industries (RIL) are trading lower by more than 3% each after these stocks turned ex-dividend today.
ICICI Bank is trading lower by almost 4% at Rs 787 on the Bombay Stock Exchange. The board of directors of India’s largest private sector bank has recommended a dividend of Rs 16.50 per equity share of face value of Rs 10 each.
“The Register of Members & Share Transfer Books of the bank will remain closed from June 02, 2012 to June 25, 2012 (both days inclusive) for the purpose of payment of dividend & Annual General Meeting (AGM) of the company to be held on June 25, 2012,” ICICI Bank said in a filing.
The payment date for the dividend, subject to approval of the same by the shareholders at the AGM, will be June 26, 2012, it added.
RIL is trading lower by 3.2% at Rs 684 on the BSE. The board at its meeting held on April 20, 2012, has recommended a dividend of Rs 8.50 per fully paid-up equity share of Rs 10/- each.
“The Register of Members & Share Transfer Books of the company will remain closed from June 02, 2012 to June 07, 2012 (both days inclusive) for determining shareholders’ entitlement for dividend, recommended by the board, on equity shares, for the financial year ended March 31, 2012,” RIL said in a filing.
The dividend will be credited / dispatched to the members between June 08, 2012 and June 14, 2012, it added.