Share Buyback, Stock Dividend Today: TIPS Industries, Sarthak Metals trade ex-date; check record date

Share Buyback, Stock Dividend Today: As many as two stocks are trading ex-date for dividend and share buyback today, December 30. These stocks are TIPS Industries Limited and Sarthak Metals Limited.

Sarthak Metals Interim Dividend, Sarthak Metals Record Date

Sarthak Metals traded ex-date on December 30, Friday. The company has announced an interim dividend of Re 1 per share with a face value of Rs 10 and set the record date as December 30.

Sarthak Metals Share Price NSE

Sarthak Metals shares opened at Rs 139.95. At 9:53 AM, the stock quoted Rs 139.15, up nearly by a per cent.

TIPS Industries Buyback, TIPS Industries Share Buyback Price

TIPS Industries traded ex-date on December 30, Friday. According to an exchange filing by the company, TIPS Industries will buyback 1,26,000 equity shares having a face value of Rs 10 each at a price of Rs 2600/- per Equity Share through the tender offer.

TIPS Industries Record date

The company has fixed the record date as December 30.

TIPS Industries Share Price NSE

TIPS Industries stock opened at Rs 1,772.00 on NSE. At 9:48 AM, the stock quoted Rs 1,784.55, down by 2.16 per cent.

Both dividend and buyback are corporate actions. In dividend, a company pays a certain amount to the shareholders as a reward without reducing its cash balance. A portion of the company's profit is distributed to its shareholders either as an interim dividend or final dividend.

In case of buyback, the company buys its own shares back from its investors. A company buys its shares at a higher price than the current market price. This premium is the profit that a shareholder gets.

Also, read- Lumpsum Investment: What it is and how it works - Key things to know

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