- Shares of Wipro, Persistent Systems, United Spirits, Ksolves India, and SRF go ex-dividend Friday
- Wipro announced a Rs 6 per share interim dividend with a record date of January 27
- Persistent Systems declared Rs 22, United Spirits Rs 6, and SRF and Ksolves Rs 5 interim dividends
Shares of Wipro Ltd., Persistent Systems Ltd., United Spirits Ltd., Ksolves India Ltd. and SRF Ltd. will be of interest on Friday, as the day marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
The record date determines the eligible shareholders who will receive the dividend payment. The ex-dividend date, which mostly coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
Wipro board announced an interim dividend of Rs 6 per share. The record date to determine the shareholders eligible for the dividend payout has been fixed as Jan. 27.
While Persistent Systems has announced an interim dividend of Rs 22 per share, United Spirits announced a dividend of Rs 6 apiece. SRF and Ksolves India approved an interim dividend of Rs 5 each.
Given India's T+1 settlement cycle, shares purchased on the record date (Jan. 27 in this case) will not be eligible for the dividend payment. Therefore, investors who own shares by Jan. 23 will be the beneficiaries.
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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