Dividend stock: Large-cap technology stock hits record high after firm announces Rs 23.8/share payout

Large-cap dividend stock: ABB India shares surged to an all-time high on Wednesday, February 21, a day after the technology firm announced its financial results and declared a dividend of Rs 23.8 per share. The ABB India stock ended 10.3 per cent higher at Rs 4,989.3 apiece on BSE after crossing an earlier peak of Rs 4,984.3, touched in January, to register a fresh record high of Rs 5,019 apiece.

After market hours, ABB India announced the final dividend for the year ended December 31, subject to the approval of shareholders at the company’s 74th annual general meeting (AGM) scheduled to be held on May 11.

ABB India dividend record date

The company had already fixed May 4 as the record date for any such dividend. "For shares held in electronic form, the dividend will be paid to those names who appear as Beneficial Owners as at the end of the business hours on May 4, 2024 as per details to be furnished by National Securities Depository Ltd. and Central Depository Services (India) Ltd," according to a regulatory filing dated February 20.

When will the ABB India dividend be paid?

The dividend will be paid after May 11, according to the filing.

ABB India Q4 results: Here's how the company fared in the December quarter

ABB India posted a rise of around 13 per cent in profit after tax to Rs 345 crore for the quarter ended December 31, mainly on the back of higher revenues, over 13.6 per cent growth in quarterly revenue to Rs 2,757 crore.

The company follows a January-to-December financial year.

ABB India shares: Past performance

ABB India shares gave a return of over 50 per cent in the past year, sharply outperforming a 24 per cent rise in the headline Nifty50 index.

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