Dividend Stocks: Listed companies in the domestic stock market are releasing the results of the third quarter of the current financial year. Along with releasing financial results, companies are also declaring dividends for their shareholders. In this series, IT company Persistent Systems is also going to give dividend to its shareholders. Persistent Systems will pay an interim dividend of Rs 22 per share of face value of Rs 5 to its shareholders for the current financial year. The company has also fixed the record date for this.
Record date fixed on January 27
The company’s board of directors at the meeting approved an interim dividend of Rs 22 per share for shareholders, Persistent Systems said in an exchange filing on January 20. The IT company has fixed January 27 as the record date for this interim dividend to be given to the shareholders. Next week on Tuesday, January 27, shares of Persistent Systems will trade ex-dividend. On the day a company’s shares trade ex-dividend, the benefit of dividend is not available on new shares purchased on that day. If an investor wants the benefit of dividend then he has to buy shares a day before the record date.
Dividend money will be transferred to the account by March 20
In the case of Persistent Systems, the benefit of dividend will be available only on shares purchased till Friday, January 23. Actually, the markets will remain closed on the occasion of Republic Day on 26th January, a day before the record date and before that there will be a holiday on Saturday and Sunday on 24th and 25th January. The company said that the dividend money will be transferred to the bank accounts of the shareholders within 30 days of the declaration of dividend. That is, according to the announcement made on January 20, investors will get the dividend money by March 20.
The company’s shares closed with a decline on Wednesday
Despite good financial results, there was a big fall in the shares of Persistent Systems today. Shares of the company closed at Rs 6220.00 with a fall of Rs 122.50 (1.93%) on NSE. During trading today, shares of the IT company ranged from an intraday high of Rs 6392.00 to an intraday low of Rs 6027.50. Shares of Persistent Systems on NSE have 52 week high of Rs 6599.00 and 52 week low of Rs 4148.95. The current market cap of this IT company is Rs 98,120.50 crore.
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