Gujarat State Petronet shares go ex-dividend

Gujarat State Petronet shares rose half a per cent on Friday, even as the stock of the state-run natural gas transmission company’s stock traded ex-dividend. The stock of Gujarat State Petronet rose by Re 1.4, or 0.5 per cent, to Rs 277.7 apiece on BSE.

The company had announced a dividend of Rs 5 per equity share with a face value of Rs 10 with a record date of September 1, 2023.

This is the 18th dividend payout by Gujarat State Petronet since September 16, 2006, according to stock analysis portal Trendlyne.

What happens when a stock goes ex-dividend?

The ex-dividend date is the day on which a stock starts to change hands among investors at a price adjusted without the value of its dividend.

There are three types of important dates associated with each type of corporate action such as a dividend: the announcement date, the record date and the ex-date.

The announcement date is the date on which a dividend is declared.

The record date is the date determining the shareholders eligible to benefit from a particular corporate action, such as a dividend. An investor must own a stock on the record date in order to receive the dividend in future.

The ex-date, or ex-dividend date, is the day on which the actual adjustment takes place in the price of the stock. This value is determined by subtracting the dividend announced earlier.

Here’s a brief history of dividends announced by the company in the recent past: