Dividend Stocks This Week: Titan, JSW Steel, Mphasis, Dr Reddy's Lab, Apollo Tyres, IDFC First Bank

Titan Co., JSW Steel Ltd., Mphasis Ltd., Dr Reddy's Laboratories Ltd., Apollo Tyres Ltd. and IDFC First Bank 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 9, then shares must be purchased by July 8.

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.

Sun Pharma will trade ex-record on July 7 for a final dividend of Rs 5.5 apiece.

JSW Steel, Solar Industries India, and Titan all have an ex-dividend/record date of July 8, with final dividends of Rs 2.8, Rs 10, and Rs 11 per share, respectively.

Following these, Apollo Tyres and HDFC Bank have an ex-dividend/record date of July 11, distributing final dividends of Rs 5 and Rs 0.25 per share, respectively.

Shareholders who wish to be eligible for these dividends must own the shares before the specified ex-record date.

Dividends are a way for companies to reward their shareholders.