Shares of SRF Ltd., Alembic Pharmaceuticals Ltd., Punjab & Sind Bank Ltd. and nine other companies will be of interest on Monday, as it marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
For a dividend, investors should note the record date that determines shareholder eligibility.
Under India's T+1 settlement cycle, shares purchased on the record date itself will not qualify for the dividend payment. Hence, if the record date of a dividend stock is July 29, then shares must be purchased by July 28.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
On July 29, several companies have their ex/record date for various dividends.
Apar Industries Ltd is distributing a final dividend of Rs 51 per share. Alembic Pharmaceuticals has also announced a final dividend of Rs 11 per share.
Bosch Ltd will be issuing a substantial dividend of Rs 512 per share. Punjab & Sind Bank has announced a dividend of Rs 0.07, and SRF has declared an interim dividend of Rs 4.
Investors who wish to be eligible for these dividends must own the shares before the specified record date.
Dividends are a way for companies to reward their shareholders. Such payouts can be annual through a final dividend or a special and interim dividend.
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