Corporate Actions This Week — SBI Life Insurance, Metro Brands, Anand Rathi Wealth
After a wave of dividend declarations following recent earnings announcements, the upcoming week will see only three major corporate actions — SBI Life Insurance Co.'s interim dividend and Anand Rathi Wealth Ltd.'s bonus issue, and Metro Brands' interim and special dividend.
To be eligible for dividends, investors should note the record date that determines shareholder eligibility. Under India's T+1 settlement cycle, shares purchased on the record date itself will not qualify for the dividend payment. The ex-dividend date, which precedes the record date, marks when the share price adjusts to reflect the upcoming payout.
A bonus issue involves the distribution of additional shares to existing shareholders at no extra cost. Companies may issue bonus shares as an alternative to cash dividends, increasing the number of shares while keeping the total investment value unchanged.
SBI Life Insurance
The board has declared an interim dividend of Rs 2.7 per share for the financial year 2024-25. The record date for shareholder eligibility is set for March 7, and the dividend will be credited on or before March 30.
Anand Rathi Wealth
The board has approved a 1:1 bonus issue, allotting 4.15 crore fully paid-up bonus shares of Rs 5 each. The record date for determining shareholder eligibility is March 5, with the deemed date of allotment set for March 6. The bonus shares will be available for trading from March 7, in accordance with SEBI regulations.
Metro Brands
The board has declared an interim dividend of Rs 3 per share and a special dividend of Rs 14.5 for the financial year 2024-25. The record date for shareholder eligibility is set for March 7.
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