Shares of three companies — Bajaj Auto, Bajaj Finance, and Bajaj Finserv — part of the benchmark Nifty index, will trade ex-dividend this week.

Bajaj Auto has declared a dividend of Rs 140 per share, which is a massive 1400% on the face value for the financial year ended March 2023. The company has fixed June 30 as the record date to determine the eligibility of the shareholders and accordingly, the shares will turn ex-dividend on Friday.

When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. An ex-dividend date also dictates which shareholders are eligible to receive the dividend payment.

In the past 12 months, Bajaj Auto has declared an equity dividend amounting to Rs 140 per share, resulting in a dividend yield of 3.03%.

On Friday, the company’s shares closed 0.17% higher at Rs 4,620 on NSE. So far this year, the stock has been among the top performers in the benchmark, rising nearly 30% on a year-to-date basis.

Meanwhile, Bajaj Finance had earlier announced a final dividend of 1,500%, Rs 30 per share to its investors. The record date for the same is fixed as June 30. The stock will trade ex-dividend on Friday.

Bajaj Finance boasts of a dividend yield of 0.29% in the past year after it paid a dividend of Rs 20 per share.

Last Friday, its shares closed 0.58% lower at Rs 6,989 on NSE. So far this year, the stock is up about 7%.

Another stock from the Bajaj Group — Bajaj Finserv — will also trade ex-dividend on June 30 with respect to the Rs 0.8 per share dividend announced. Bajaj Finserv, the parent company of Bajaj Finance, has set June 30 as the record date for the said dividend.

Over the past year, Bajaj Finserv has paid a dividend of Rs 4 per share to investors, which translates into a yield of 0.27%.