The upcoming week is set to be active with various corporate actions, including several companies going ex-trade for dividends, bonus issues and stock splits. Investors seeking to benefit from these actions should closely monitor the ex/record-dates to ensure their eligibility.
Key names in focus this week include Kotak Mahindra Bank Ltd., Piramna Pharma Ltd., Bharti Airtel Ltd. and Tata Consultancy Services Ltd. among others, all of which have record dates for dividends coming up.
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Amongst the 69 companies issuing dividends, Cummins India Ltd. has recommended the highest final dividend at Rs 33.5, followed by Goodyear India Ltd. at Rs 23.90, Computer Age Management Services Ltd. at Rs 19, Grindwell Norton Ltd. at Rs 17, Bharti Airtel at Rs 16 and GRP Ltd. at Rs 14.50.
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Ashok Leyland Ltd.'s allotment of bonus shares is scheduled on July 17. The company will issue a bonus share of one for each held.
The company's allotment committee will determine shareholder eligibility on July 16, with the bonus shares becoming available for trading on July 18 post allotment.
Here is a look at companies with key corporate actions scheduled for this week.
The record date determines the eligible shareholders who will receive the dividend payment, bonus shares or stock split. The ex-date, which mostly coincides with the record date, marks when the share price adjusts to reflect the corporate action.
Dividends are a way for companies to reward their shareholders.
Given India's T+1 settlement cycle, shares purchased on the record date will not be eligible for the dividend/bonus/stock split. Therefore, investors who own shares by the end of session ahead of the record date will be the beneficiaries.
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