Mumbai
India’s most valued company by market capitalization Reliance Industries Ltd will remain under focus this week as its shares are set to turn ex-dividend for the financial year ended March 31, 2023.
The behemoth stock will begin trading ex-dividend on Monday, August 21, 2023. The Board of Directors of the oil-to-telecom conglomerate had recommended a dividend of 9 per share of Rs 10 each for the financial year 2022-23 while releasing its audited financial earnings for the March quarter.
The corporate reward is subject to the approval of Reliance Industries’ shareholders at the giant’s 46th Annual General Meeting (AGM) scheduled to be held on Monday, August 28, 2023, through video conferencing.
The market bellwether’s Board has fixed Monday, August 21, 2023, as the Record Date for the purpose of determining the members of the company eligible to receive a dividend for FY23.The dividend, if approved at the ensuing AGM, shall be paid or dispatched to eligible shareholders of Reliance Industries within a week from the conclusion of the said AGM.
The Mukesh Ambani-led conglomerate major has shown a consistent track record of increasing dividend year on year, giving a dividend of Rs 8/share in FY 2021-22, and of Rs 7/share in FY 2020-21.Further, RIL’s demerged financial services undertaking Jio Financial Services Ltd will be listed on the NSE and BSE on Monday, August 21, 2023.
