3M India is in the spotlight today as the company has announced a substantial dividend of ₹685 for shareholders, coinciding with its Q4 FY24 results. Here’s what you need to know:
- Dividend Breakdown: ₹160 as a final dividend and ₹525 as a special dividend.
- Record Date: July 5, 2024.
- Key Date: Today is the last day to buy shares to qualify for this dividend.
Background: On May 28, 2024, 3M India’s Board of Directors approved a final dividend of ₹160 and a special dividend of ₹525 per share for the financial year 2023-24.
Past Dividends:
- Final dividend of ₹100 in July 2023.
- Special dividend of ₹850 in November 2022.
Eligibility: To be eligible for the dividend, investors must own shares by the end of today due to the T+1 settlement system. Buying shares on the ex-date means missing out on the dividend.
Market Impact: 3M India shares rose by 1.2%, closing at ₹39,380 on the BSE.
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