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Dividend, rights issue: Foseco India, 2 others to trade ex-date on May 14
Shares of Foseco India, Mahindra & Mahindra Financial Services, and R Systems International are expected to remain in the spotlight during today's trading session, as they will trade ex-date tomorrow, Wednesday, May 14, 2025, following their corporate announcements. Among them, Foseco India and R Systems International will trade ex-dividend, while shares of Mahindra & Mahindra Financial Services will turn ex-date following the announcement of a rights issue.
According to the BSE data, chemical manufacturing company Foseco India has announced a final dividend of ₹25 per share for its shareholders. The company has set the record date for Wednesday, May 14, 2025, to determine shareholder eligibility for the dividend.
IT service management company R Systems International, on the other hand, has announced an interim dividend of ₹6 per share for its shareholders, with the record date also set for Wednesday, May 14, 2025.
Meanwhile, the Non-Banking Financial Company (NBFC) Mahindra & Mahindra Financial Services has announced the issuance of fully paid-up equity shares of the company, to the eligible shareholders, for an amount not exceeding ₹3,000 crore by way of Rights Issue. The Rights Entitlement ratio: 1 (one) rights equity share for every 8 fully paid-up equity shares held by the eligible equity shareholders of the company, as on the record date (eligible equity shareholders). Issue Price of ₹194 per fully paid-up equity share (including a premium of ₹192 per fully paid-up equity share). The entire issue price will be payable at the time of making the application in the issue.
The NBFC has set Wednesday, May 14, 2025, as the record date to determine the shareholders who will be eligible to receive the Rights Entitlements under the Rights Issue.
The ex-date refers to a trading date when a stock begins trading without the entitlement to dividends or rights issues. Thus, to qualify for these corporate actions, investors need to own the stock before the ex-date. Companies, however, declare the beneficiaries of dividends and rights issues based on the list of shareholders recorded by the end of the record date.
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