- Shares of 35 companies will trade ex-dividend on Monday, marking the last day to buy for dividends
- The record date sets eligibility for dividend receipt, shares bought on this day do not qualify
- Under India’s T+1 settlement, shares must be bought before the record date to get dividends
Shares of Steel Authority of India Ltd., RBL Bank Ltd., Titagarh Rail Systems Ltd., Housing & Urban Development Corp. and 31 other companies will be of interest on Monday, as it 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 shareholder eligibility for receiving a dividend.
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 Sept. 9, then shares must be purchased by Sept. 8.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
Among the PSUs, HUDCO will pay a final dividend of Rs 1.05 per share, Gujarat State Fertilizers & Chemicals Ltd. of Rs 5, India Tourism Development Corp. of Rs 2.9, and SAIL of Rs 1.6.
Birla Corp. has announced a final dividend of Rs 10, while Apollo Micro Systems Ltd. will payout Rs 0.25.
Both Titagarh Rail Systems and RBL Bank have declared a dividend of Rs 1 per share.
Dividends are a way for companies to reward shareholders. Such payments are made through final, interim and special dividends.
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