The upcoming week brings a busy slate of corporate action, with record dates of stock splits, interim dividends and bonus issues of prominent companies being announced.
This week will see Tata Motors Ltd. and SKF Ltd. spin-off their companies on Oct. 14 and Oct. 15 respectively, along with seven stock splits.
Suraj Industries Ltd. and Delphi World Money Ltd. will have the rights issue of their equity shares on record dates Oct. 13 and Oct. 14 respectively.
Energy Infrastructure Trust Ltd. will have its income distribution on Oct. 14.
Key names in focus this week include Tata Motors Ltd., Tata Consultancy Services Ltd., SKF India Ltd. and Anand Rathi Wealth Ltd. among others, which have record dates coming up.
Investors eyeing dividend payouts or stock-split benefits must keep a close watch on these dates to ensure eligibility.
To be eligible for dividends, 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. The ex-dividend date, which precedes the record date, is when the share price adjusts to reflect the upcoming payout.
Here is a look at companies that declared dividends and have key dates coming up this week.
Interim Dividends This Week
Tata Consultancy Services: Interim Dividend of Rs 11.
Elecon Engineering Company: Interim Dividend - Rs. 0.5.
Anand Rathi Wealth: To be decided on Oct. 17.
Stock Split
Gokul Agro Resources Ltd., will split its stock from Rs 2 per share to Rs 1 per share on Oct. 14. Tata Investment Corp. will have a stock split from Rs 10 per share to Rs 1 per share on Oct. 14. Welcure Drugs & Pharmaceuticals Ltd. will split its stock from Rs 10 per share to Rs 1 per share on Oct. 16.
A B Infrabuild Ltd. will have a stock split from Rs 10 per share to Rs 1 per share on Oct. 17. Narmada Macplast Drip Irrigation Systems Ltd. will split its stock from Rs 10 to Rs 2 on Oct. 18. Rolex Rings will have a stock split from Rs 10 per share to Rs 1 per share on Oct. 17 and Sunrakshakk Industries India Ltd. will split its stock from Rs 10 to Rs 2 on Oct. 17.
Bonus Issue
Concord Control Systems Ltd. had recommended an issue of bonus shares in the ratio of 3:5, with the record date for the same is set as Oct. 16. The board of Welcure Drugs & Pharmaceuticals Ltd. had recommended an issue of bonus shares in the ratio of 1:10 new fully paid-up equity shares. The record date for the same is set as Oct. 16.
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