Max India slips as stock turns ex-dividend

The board had declared an interim dividend of 500% i.e. Rs 10 for every equity share of Rs 2/- each for the financial year 2012-13.

Max India is trading lower by 4% to Rs 232 after the stock of plastic products maker turn ex-dividend today.

The board of directors of the company at its meeting held on November 09, 2012, had declared an interim dividend of 500% i.e. Rs 10 for every equity share of Rs 2/- each for the financial year 2012-13.

“The company has fixed November 23, as the record date for the purpose of payment of interim dividend. The dividend will be paid to the shareholders on or before December 06, 2012,” Max India said in a statement.

The stock opened at Rs 233 and hit a low of Rs 231 on the BSE, has seen huge trading activities. . A combined 303,913 shares have already changed hands on the counter in morning trades against an average 350,000 shares that were traded daily in past two weeks.