- Shares of Cochin Shipyard, Garden Reach Shipbuilders and 68 others are of interest on Thursday
- Record date determines eligibility for dividends under India's T+1 settlement cycle
- Shares must be bought by the day before the record date to qualify for dividend payment
Shares of Cochin Shipyard Ltd., Garden Reach Shipbuilders & Engineers Ltd., KPI Green Energy Ltd. and 68 other companies will be of interest on Thursday, 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. 12, then shares must be purchased by Sept. 11.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
Dividend Stocks To Watch
Among the PSUs, Cochin Shipyard will give a final dividend of Rs 2.25 per share, and Garden Reach Ship will pay Rs 4.9.
Vadilal Industries Ltd. has announced a final dividend of Rs 21, while Vardhman Textiles Ltd. will pay out Rs 5.
Mastek Ltd. has declared a final dividend of Rs 16 per share.
Other notable names include HeidelbergCement India Ltd., Kajaria Ceramics Ltd., K.P. Energy Ltd., Manba Finance Ltd., and Uttam Sugar Mills Ltd.
Dividends are a way for companies to reward shareholders. Such payments are made through final, interim and special dividends.
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