Shares of Asian Paints are set to trade ex-dividend with an impressive 515% dividend; do you own it?

Indian headline indices staged a strong recovery in today’s trading session, reflecting the prevailing upbeat sentiment among investors worldwide. Notably, the broader indices outperformed the main indices by a significant margin. This optimism extended across various sectors, as all sectoral indices exhibited gains. Investors took particular interest in BSE Realty and BSE Telecommunications, both of which recorded impressive 2% gains. Furthermore, sectors including power, utilities, and metals witnessed substantial buying activity following a sharp sell-off experienced in the last few sessions.

Shares of Asian Paints Ltd were in the spotlight today due to an upcoming record date for interim dividend on November 03, 2023. The board of directors of the company has approved the payment of interim dividend of Rs 5.15 per equity share of the face value of Re 1 each for the financial year ending March 31, 2024 and added that the dividend will be paid to the shareholders on or after November 13, 2023.

In the last three months, shares that have experienced a decline of over 10% are now showing signs of a modest increase in buying activity. Currently, these shares are trading at Rs 2,964 per share, having reached a 52-week high of Rs 3,566 on the BSE in July 2023.

Asian Paints, India’s premier paint and decor company, holds a prominent position in the global coatings industry, ranking among the top 8 companies worldwide. The company boasts a consolidated turnover of Rs 34,489 crore and commands a substantial market capitalization of approximately Rs 3,000 billion. Asian Paints, in conjunction with its subsidiaries, maintains a robust international presence, operating in 15 countries around the world. Their extensive reach is supported by 27 paint manufacturing facilities, allowing them to serve consumers in over 60 countries.

Keep a close eye on this stock for the upcoming trading sessions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.