Dividend Stock: The stock market has once again seen a historic rise on Wednesday. Amidst this environment, there was huge demand for the shares of listed company 3M India Ltd (3M India ltd share). On the third day of the week, this share rose by about 2 percent to a price of Rs 39536.20. Looking at the rise, at one time it seemed that the stock would touch a new 52-week high for the second time in the month of July. However, this could not happen. Let us tell you that on July 2, 2024, this share had touched the level of Rs 40,726.75.
reason for the rise
3M India Limited, the Indian unit of America’s 3M company, has set the record date for payment of both its final and special dividend as July 5, 2024. This means that investors who hold shares of the company in their demat accounts till the record date will be eligible to receive the dividend payment.
This share will rise by 50%, there is a rush to buy it, the company is going to be debt free
₹685 dividend on every share
Let us tell you that on May 28, 3M India announced a final dividend of ₹ 160 per share and along with it a special dividend of ₹ 525 per share, taking the total payment to ₹ 685 per share. After shareholder approval, the dividend will be sent to shareholders within a month. In the year 2023, 3M India had declared a dividend of ₹ 100 per share. Earlier it had announced a special dividend of ₹850 in 2022. The face value of each share of 3M India is ₹10.
This share can go up to ₹ 35, now the price is 94% cheaper, experts said – buy
3M India manufacturers products for electronics, telecom, industrial, healthcare, security and other markets. Let us tell you that the stock had increased by 70% in the year 2023, making it the best calendar year for the stock since 2017.
