Glenmark Pharmaceuticals To Trade Ex-Dividend This Week

Glenmark Pharmaceuticals Ltd. is the only company to trade ex-dividend this week. The company will issue an interim dividend of Rs 2.5 on Oct. 3.

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 Oct. 3, then shares must be purchased by Oct. 1, as Oct. 2 will be a market holiday on occasion of Gandhi Jayanti.

The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.

To be eligible for dividends, investors should take note of the record date, which 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 falls before the record date, marks when the share price adjusts to reflect the upcoming payout.

Glenmark Pharmaceuticals' consolidated net profit dropped 86% in the first quarter of the current financial year.

The drugmaker posted a profit of Rs 46.80 crore in comparison to profit of Rs 340.2 crore in the same quarter of the previous fiscal, according to its stock exchange notification on Thursday. The decline is despite a one-time gain of Rs 323 crore in the June quarter.