Corporate Actions Update: Schaeffler India, CIE Automotive India, other trade ex-dividend on April 23

Shares of Schaeffler India, CIE Automotive India, and Elantas Beck India came under focus on Wednesday as the companies traded ex-dividend. The record date for identifying eligible shareholders for the dividend payouts is set for today, April 23, 2025. Investors were required to purchase the stocks by Tuesday, April 22, 2025, to be eligible for the upcoming dividend distributions, as per the T+1 settlement cycle.

Dividend details

Schaeffler India, an auto components and equipment manufacturer, has announced that its board has recommended a dividend of Rs 28 per equity share of face value Rs 2 each. However, this remains subject to approval at the Annual General Meeting (AGM) scheduled for April 30, 2025. The company has set April 23, 2025, as the record date to determine shareholders eligible for the dividend. If approved at the AGM, the dividend will be paid within 30 days from the date of the AGM, Schaeffler India said in an exchange filing. 

Similarly, CIE Automotive India has recommended a final dividend of Rs 7 per equity share of face value Rs 10 for the fiscal year ending December 31, 2024. This dividend is also subject to shareholder approval at the AGM scheduled for April 30, 2025. The payout, once approved, will be made within 30 days from the AGM.

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"The dividend on the equity shares of the company for the year ended December 31, 2024, as recommended by the board of directors and as may be declared at the ensuing AGM, will be paid within a period of 30 days from the date of the AGM (scheduled on April 30, 2025) to those shareholders or their mandates," the company said in an exchange filing.
Stock performance

Elantas Beck India’s board has proposed a final dividend of Rs 7.50 per fully paid-up equity share, with a face value of Rs 10 each, for the financial year ending December 31, 2024. This recommendation is subject to applicable tax deductions and requires approval from the shareholders at the 69th Annual General Meeting, which is set for April 30, 2025. The company has set April 23, 2025, as the record date to determine the eligible shareholders.

Stock performance

As of 1:57 pm on Wednesday, Schaeffler India shares were trading at Rs 3,259.90, reflecting a 2.30 percent decline from the previous close. The stock reached an intraday high of Rs 3,349.55 during the session, as per BSE data.

CIE Automotive India shares were trading at Rs 415.55, marking a 2.02 percent drop from the previous close, with an intraday high of Rs 424.45, while Elantas Beck India's shares were trading at Rs 10,150.10, a decline of 1.13 percent from its previous close, reaching an intraday high of Rs 10,430.00, according to BSE.

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What is ex-dividend date and record date?

The ex-dividend date and record date are crucial milestones in determining shareholder eligibility for dividends. The ex-dividend date is the day a stock starts trading without the entitlement to the declared dividend, meaning investors must own the stock before this date to qualify for the payout. The record date, on the other hand, is when companies finalize the list of eligible shareholders based on their official records.