Axis Bank Ltd., JSW Infrastructure Ltd., Mahindra & Mahindra Ltd., and Tech Mahindra Ltd. are among the many stocks that will trade ex-dividend this week.
Investors eyeing dividend payouts must keep a close watch on these dates to ensure eligibility. To be eligible for dividends, 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 1, then shares must be purchased by June 30.
The ex-dividend date, which precedes the record date, marks when the share price adjusts to reflect the upcoming payout.
Here is a look at companies that declared dividends and have key dates coming up this week.
For Axis Bank, a final dividend of Re 1 per share has been declared, with the ex/record date set for July 4. Similarly, Bharat Forge has announced a final dividend of Rs 6 per share, and Biocon is distributing a final dividend of Re 0.50 per share, both with an ex/record date of July 4.
Tech Mahindra is offering a substantial final dividend of Rs 30 per share, and Mahindra & Mahindra has a dividend of Rs 25.3 per share, with both companies also having an ex/record date of July 4.
JSW Infrastructure is set to pay a final dividend of Re 0.8 per share, with its ex/record date falling on July 1.
Shareholders who wish to be eligible for these dividends must own the shares before the specified ex-dividend date.
Dividends are a way for companies to reward their shareholders.
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