CG Power and Industrial Solutions Ltd. informed the exchanges on Tuesday that it will consider an interim dividend for the financial year 2024-25 at its board meet on March 18.Record date for determining the shareholders who are entitled for the said dividend is yet to be fixed.
A record date means shareholders who own shares of the company at that particular date will be eligible for the dividend payout.Shares of CG Power will trade ex-dividend on the day or a day 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 to receive the dividend payment.
Based on the December quarter shareholding pattern, the promoter held a 58.06% stake in CG Power.
Shares of CG Power and Industrial Solutions Ltd. are trading flat at ₹596.90. The stock is down 19% so far this year.
