Dividend Stock: This smallcap company is rewarding shareholders with 103% payout [Video]

Auto parts maker Sundaram-Clayton Ltd. has announced an interim dividend of ₹5.15 per share for its shareholders for the financial year ending March 31, 2024. The decision was made at its board meet on Tuesday.

The dividend payout will cost the company about ₹10.42 crore.

Record date for the interim dividend has been fixed as April 4, 2024. A record date means only those accounts, who own shares of Sundaram-Clayton as of that date, would be eligible for the dividend payout.

The amount of dividend declared translates into a total payout of 103%.

The payment of the interim dividend will be completed within 30 days of declaration, the company said in an exchange filing.

Shares of Sundaram-Clayton will likely trade ex-dividend a day or two days before the record date. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. An ex-dividend date also dictates which shareholders are eligible …