Archean Chemical Industries Ltd., Bank of Baroda, BEML Ltd., Cipla Ltd., HDFC Asset Management Company Ltd., ICICI Prudential Life Insurance Company Ltd., Jagran Prakashan Ltd.,JSW Energy Ltd., Bank of Maharashtra, Mkventures Capital Ltd., Ponni Sugars (Erode) Ltd., QGO Finance Ltd., Reliance Industries Ltd. will be of interest on Thursday as the day marks the last session for retail 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.
Archean Chemical Industries Ltd.. has declared a final dividend of Rs 2.5, while Bank of Baroda has announced a dividend of Rs 8.5. BEML Ltd. has issued an interim dividend of Rs 2.30, and Cipla Ltd has declared a final dividend of Rs 13.
HDFC Asset Management Company Ltd stands out with a substantial final dividend of Rs. 54, whereas ICICI Prudential Life Insurance Company Ltd has announced a more modest final dividend of Rs 1.66 Jagran Prakashan Ltd. has made two announcements, offering both an interim dividend of Rs 7 and a special dividend of Rs 3.
JSW Energy Ltd has declared a dividend of Rs 2 while Bank of Maharashtra has announced a final dividend of Rs 1.2. Mkventures Capital Ltd and QGO Finance Ltd have declared interim dividends of Re 0.25 and Rs 0.15 respectively. Meanwhile, Ponni Sugars (Erode) Ltd has announced a final dividend of Rs 5 and Reliance Industries Ltd has declared a final dividend of Rs 6 rounding off the set of announcements.
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T+1 Settlement Cycle
Given India's T+1 settlement cycle, shares purchased on the record date (June 5 in this case) will not be eligible for the dividend payment. Therefore, investors who own shares by June 4 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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