DLF shares dive nearly 8% on ex-dividend

Shares of realty firm DLF tumbled nearly 8% amid huge selling pressure as the stock went ex-dividend Monday.

The stock plunged 7.59% to settle at Rs 106.55 on BSE. During the day, it dipped 8.8% to Rs 105.15.

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At NSE, shares of the company declined by 7.79% to end at Rs 106.50.

On the volume front, 12.42 lakh shares of the company changed hands at BSE and over one crore shares were traded at NSE during the day.

DLF had earlier informed BSE that the Board of Directors of the company at its meeting held on March 17, declared an interim dividend of Rs 2 per equity share for this fiscal.

The company has fixed March 29 as the record date for the purpose of payment of interim dividend.

The issuing company fixes a particular date which is termed as record date when the investor must own shares in order to be eligible to participate in events like receiving dividend and bonus shares.