Shares of Apollo Tyres Ltd., UPL Ltd., IDFC First Bank Ltd. and 19 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.
For a dividend, investors should note the record date that determines shareholder eligibility.
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 July 11, then shares must be purchased by July 10.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
On July 11, several companies have their ex/record date for various dividends.
Apollo Tyres will issue a final dividend of Rs 5 per share, while IDFC First Bank will pay a dividend of Rs 0.25.
UPL is distributing a final dividend of Rs 6, and Balkrishna Industries will also issue a final dividend of Rs 4.
Zensar Technologies Ltd has a final dividend of Rs 11, and Zydus Wellness Ltd will pay a final dividend of Rs 6.
Shareholders who wish to be eligible for these dividends must own the shares before the specified record date.
Dividends are a way for companies to reward their shareholders.
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