These two stocks to turn ex-dividend, ex-split today - check details

Stock dividend, split today, March 16: SBI Life Insurance will trade ex-dividend and Medico Remedies will trade ex-split today, March 16, according to the NSE website.

SBI Life Share Dividend: SBI Life Insurance has announced an interim dividend of Rs 2.50 per equity share with a face value of Rs 10 each. Pic: Freepik

Stock dividend, split today, March 16: SBI Life Insurance will trade ex-dividend and Medico Remedies will trade ex-split today, March 16, according to the NSE website. Typically, the price of a stock is adjusted when a company distributes dividend and split equity shares.

SBI Life Share Dividend

SBI Life Insurance has announced an interim dividend of Rs 2.50 per equity share with a face value of Rs 10 each. The stock will trade ex-dividend today, March 16. The record date is also March 16.

"Declared an interim dividend on equity shares of the Company of Rs 2.50/- (Two Rupees and Fifty Paisa only) per equity share with a face value of Rs.10 each (i.e. 25%) for the Financial Year 2022-23," the filing said.

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SBI Life Share Dividend Payment Date

The dividend amount will be credited directly into the shareholders' bank account linked to their Demat account on the payment date. The payment date shall be April 6.

"The aforesaid Interim Dividend will be paid to the Shareholders on or before April 06, 2023," the filing said.

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SBI Life Share Price Target 2023

Brokerage firm JP Morgan has maintained an 'overweight' rating on the counter. The brokerage has cut the target price to Rs 1440 from Rs 1630.

SBI Life Share Price History

YTD, the stock has yielded a negative return of 14 per cent. At current market levels, SBI Life insurance has a market cap of Rs 1.07 lakh crore.

Medico Remedies Stock Spilt Record Date

Medico Remedies will trade ex-split today, March 16. The record date is also March 16. The stock will split in a 5:1 ratio. The face value will be split from Rs 10 to Rs 2 apiece.

"Sub-division/split of 1 (One) equity shares of face value Rs. 10/- (Rupees Ten Only) each fully paid up into 5 (Five) equity shares of Rs. 2/- (Rupees Two Only) each fully paid up," the filing said.