Newgen Software, Cera, Bank of India, CEAT shares to go ex-dividend; Blue Star stock to turn ex-bonus today

Shares of Newgen Software Technologies, Cera Sanitaryware, Bank of India and CEAT, among others, will turn ex-dividend on Tuesday. Among other corporate actions, Blue Star shares will turn ex-bonus in the ratio of 1:1 while the board of  Dredging Corporation of India will hold an EGM later today.

Shares of Newgen Software Technologies will turn ex-dividend today. The company had announced a final  dividend of Rs 5 per share. Today is also the record date for the dividend and that board of Newgen Software Technologies will determine name of eligible shareholders for the same. All shareholders with their names in the list at the end of record date will be eligible to receive dividend. The actual payment will be made on July 25.

Shares of Cera Sanitaryware will also turn ex-dividend today. The PSU announced a final dividend of Rs 50 per share. The actual payment will be made on August 3.

Bank of India had announced a dividend of Rs 2 and today is the record date for the same. The dividend will be paid on July 27. CEAT had announced a final dividend of Rs 12 per share. Today is the ex-date and record date for the stock. Shares of Meghmani Finechem (Rs 2.50 per share), Meghmani Organics (Rs 1.40 per share) and Sagar Cements (Re 0.70 per share) will also turn ex-dividend today.

Meanwhile, shares of Blue Star will turn ex-bonus in the ratio of 1:1. Bonus is issued in a certain proportion only to the existing shareholders. A 1:1 ratio suggests if an investor already own 1 share of Blue Star, he will get 1 additional new share. Total holding of shares will be 2 shares instead of 1 share. Here new shares are issued at the existing face balue of equity shares of the company and that face value remains the same post the bonus issue.

A bonus increases number of outstanding equity shares and, thus, liquidity in equity shares on the stock exchanges. It reduces free reserves and surplus of the company, reduces share price in proportion to number of bonus shares issued and reduces per share ratios.

In a filing on June 8, Blue Star said: "We wish to inform you that the Company has fixed Tuesday, June 20, 2023 as the record date for ascertaining eligibility of Members who shall be entitled for allotment of bonus equity shares in the ratio of 1:1 i.e. 1 (One) Equity Share of Rs 2/- each for every 1 (One) existing Equity Share of Rs 2/- each. The above information is also being placed on the website of the Company at www.bluestarindia.com Kindly take the same on record."

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