Shares of Shree Cement Ltd., Colgate Palmolive India Ltd. and Oracle Financial Services Ltd. are among the five that will be of interest on Friday, as it marks the last session for investors to buy shares to qualify for receiving the interim dividend before the stock goes ex/record-date.
The record date determines shareholder eligibility to receive a dividend. Under India's T+1 settlement cycle, shares purchased on the record date itself will not qualify for the dividend payment. Hence, as the record date of these dividend stocks is Nov. 3, then shares must be purchased by Oct. 31.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
Oracle Financial will pay an interim dividend as high as Rs 130 per share.
Notably, no PSU stock is part of Monday's record date list.
List Of Dividend Stocks In Focus
Colgate Palmolive (India): Interim Dividend - Rs 24
DCM Shriram: Interim Dividend - Rs 3.6
Oracle Financial Services Software: Interim Dividend - Rs 130
Shree Cement: Interim Dividend - Rs 80
Supreme Industries: Interim Dividend - Rs 11
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.
Mazagon Dock Shipbuilders Ltd., Hindustan Petroleum Corp., Coal India Ltd., Dabur India Ltd and Hindustan Unilever Ltd. are some companies that will record shareholders next week.
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