Hi, I am new in trading. I read the following news:
ONGC will give an interim dividend of Rs 32 a share of Rs 10 each. The record date for the same would be December 21, ONGC chairman RS Sharma said on Thursday.
It will also split each share into two and will give an additional share for each one held, added Sharma.
Does it mean that if I purchase 10 shares of ONGC on 18 Dec (Comming Monday), then I would get Rs 320 as divident. Also, 10 shares would be split into 20 shares of same value, and I would get 10 shares for free . So total number of shares in my demat account would become 30.
Is this correct?
ONGC will give an interim dividend of Rs 32 a share of Rs 10 each. The record date for the same would be December 21, ONGC chairman RS Sharma said on Thursday.
It will also split each share into two and will give an additional share for each one held, added Sharma.
Does it mean that if I purchase 10 shares of ONGC on 18 Dec (Comming Monday), then I would get Rs 320 as divident. Also, 10 shares would be split into 20 shares of same value, and I would get 10 shares for free . So total number of shares in my demat account would become 30.
Is this correct?