© Reuters.
Several Indian companies including Hindustan Unilever (LON:), Tech Mahindra, Kajaria Ceramics, and Laurus Labs declared dividends on Thursday, despite witnessing a decline in their net profits due to subdued demand and higher expenses. Tech Mahindra also saw its earnings margins contract to 4.7%.
On the same day, these companies began trading ex-dividend as per the National Stock Exchange (NSE). Hindustan Unilever declared a dividend of Rs 18/share (face value Re 1), with November 2 as the record date and November 16 as the payment date. Tech Mahindra announced a Rs 12/share dividend (face value Rs 5), a substantial 240% payout, with November 2 and 21 being the record and payment dates respectively. Kajaria Ceramics declared a dividend of Rs 6/share (face value Rs 1), with November 2 as the record date.
While several companies experienced declines in profit, Share India Securities bucked the trend with an increase in revenue. The company announced dividends of Rs 3/share (face value Rs 10), setting November 2 as the record date.
Laurus Labs reported a significant net profit fall along with over 22% year-on-year revenue loss. Despite this, the company offered a dividend of Rs 0.40/share (face value Rs 2), with November 2 as the record date.
Bhansali Engineering Polymers, which distributed a ₹2.33 dividend last year, declared an ex-dividend of Re 1/share (face value Re 1) on November 2.
In addition to declaring dividends, Cantabil Retail India announced a stock split on Thursday. The company experienced a drop in Q2 net profit and EBITDA but reported a sales increase by 16.48%.
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