Shares of Glenmark Pharmaceuticals Ltd., Indraprastha Gas Ltd., The Phoenix Mills Ltd., DOMS Industries Ltd. and 22 other companies will be of interest on Friday, as it marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
The record date determines shareholder eligibility for receiving a dividend.
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 Sept. 15, then shares must be purchased by Sept. 12.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
Dividend Stocks To Watch
Indraprastha Gas is the only public-sector undertaking in the pack, which is set to pay a final dividend of Rs 4.9 per share.
Glenmark Pharma and Phoenix Mills have both announced a final dividend of Rs 2.5.
DOMS Industries has declared a final dividend of Rs 3.15 per share.
Other notable names include KNR Constructions Ltd., Landmark Cars Ltd., Power Mech Projects Ltd., Lux Industries Ltd., Empire Industries Ltd., Interarch Building Solutions Ltd., Aarti Pharmalabs Ltd., and Texmaco Rail & Engineering Ltd.
Dividends are a way for companies to reward shareholders. It is the portion of profits that a company distributes to its shareholders and is essentially a return on the investment shareholders make in the company's equity. Such payments are made through final, interim and special dividends.
Dividends are taxable in the hands of the shareholders, and companies are no longer required to pay the Dividend Distribution Tax (DDT). The TDS on dividend income for resident individuals is 10% if the dividend amount exceeds Rs 5,000 in a financial year.
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