Shares of LTIMindtree Ltd., Waaree Energies Ltd., and HDB Financial Services Ltd. are among the eight that will be of interest on Thursday, 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. Indian Railway Finance Corp. is the sole PSU stock giving a dividend.
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 Oct. 24, then shares must be purchased by Oct. 23.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
List Of Dividend Stocks In Focus
LTIMindtree: Interim Dividend - Rs 22
Waaree Energies: Interim Dividend - Rs 2
Thyrocare Technologies: Interim Dividend - Rs 7
HDB Financial Services: Interim Dividend - Rs 2
Indian Railway Finance Corp: Interim Dividend - Rs 1.05
Cyient: Interim Dividend - Rs 16
Kajaria Ceramics: Interim Dividend - Rs 8
Accelya Solutions India: Final Dividend - Rs 40
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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