Baroda BNP Paribas MF starts dividend yield fund
Baroda BNP Paribas Mutual Fund on Wednesday announced the launch of its dividend yield fund, which will predominantly invest in dividend yielding stocks. “The fund aims to invest in companies with predictable and stable cash flows, led by managements that prioritise rewarding shareholders with regular dividends. The investment approach is to invest in growth companies that are also rewarding investors through regular dividends and buyback,” the fund house said.
General Atlantic exits PNB Housing Finance
Cyient divests 14.5% stake in subsidiary firm
IT firm Cyient on Wednesday divested 14.5 per cent stake in subsidiary Cyient DLM to mobilise Rs 880 crore. It sold 11.5 million shares at Rs 764.4 apiece. Shares of Cyient DLM closed at Rs 776, down 1.6 per cent. Among the buyers were Aditya Birla Sun Life MF, Nippon India MF, and HDFC MF. Following the stake sale, Cyient’s stake has reduced to 52.16 per cent.
HZL dividend sweetens deal for OFS investors
Hindustan Zinc Ltd (HZL) has sweetened its offer for sale (OFS) to investors by declaring an interim dividend of Rs 19 per share. The dividend — amounting to a yield almost 4 per cent over the OFS price — was announced on Tuesday, a day after the OFS included. The integrated zinc and silver manufacturer has set the ex-date of August 28 for dividend payout. This is HZL’s second interim dividend and the first payout of Rs 10 in May.
First Published: Aug 22 2024 | 12:01 AM IST