Cera Sanitaryware in Spotlight: Company’s Shares to Trade Ex-Dividend for FY23

Cera Sanitaryware, one of the prominent names in providing home solution products, seems to be gathering all the attention this week due to its shares becoming ex-dividend for the financial year that concluded on March 31, 2023.

Investing.com's ‘Dividend Calendar indicates that Cera Sanitaryware's stock is all set to start trading ex-dividend by Tuesday, June 20, 2023. At the time of the announcement of its financial earnings for the quarter ending in March, Cera Sanitaryware's Board of Directors recommended a dividend of Rs 50 per fully paid-up equity share with a face value of Rs 5 each for the financial year 2022-23.

The Board of the sanitaryware company revealed that the proposed dividend is dependent on the approval at the 25th Annual General Meeting (AGM), which is scheduled for July 6, 2023. Once the decision is approved, the dividend will be disbursed to eligible shareholders within 30 days from the date of declaration.

Cera Sanitaryware has suggested an increased dividend of Rs 50 per share for the financial year 2022-23. This dividend amount indicates an increase of 1,000% of the face value of the shares. The decision to raise the dividend was made based on the company's earnings growth in FY23. The proposed dividend is much higher than the combined dividend of Rs 35 per share distributed in the previous financial year 2021-22. The dividend increase reflects a growth of 700% when compared to the face value of the shares.

Cera Sanitaryware has also announced that the Register of Members and the Share Transfer Books of the company will remain closed from June 21 to June 28, 2023, including both the mentioned dates as well.

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