Titan Co., JSW Steel Ltd., Mphasis Ltd., Dr Reddy's Laboratories Ltd., Apollo Tyres Ltd. and IDFC First Bank Ltd. are among the many stocks that will trade ex-dividend this week.
Investors eyeing dividend payouts 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. Hence, if the record date of a dividend stock is July 9, then shares must be purchased by July 8.
The ex-dividend date, which precedes the record date, marks 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.
Sun Pharma will trade ex-record on July 7 for a final dividend of Rs 5.5 apiece.
JSW Steel, Solar Industries India, and Titan all have an ex-dividend/record date of July 8, with final dividends of Rs 2.8, Rs 10, and Rs 11 per share, respectively.
Following these, Apollo Tyres and HDFC Bank have an ex-dividend/record date of July 11, distributing final dividends of Rs 5 and Rs 0.25 per share, respectively.
Shareholders who wish to be eligible for these dividends must own the shares before the specified ex-record date.
Dividends are a way for companies to reward their shareholders.
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