Patanjali Foods Ltd., Sanofi India Ltd. and Mold‑Tek Technologies Ltd. are among the companies that will be on investor radar this week as they go ex-dividend.
CIE Automotive India Ltd. and Sanofi India Ltd. will go ex‑dividend on April 22. CIE Automotive has announced a final dividend of Rs 7 per share, while Sanofi India has declared a final dividend of Rs 48 per share. Both companies have set April 22 as the record date.
On April 23, CRISIL Ltd. will trade ex‑dividend for an interim dividend of Rs 9 per share. Huhtamaki India Ltd. will go ex‑dividend for a final dividend of Rs 2 per share, while Schaeffler India Ltd has announced a final dividend of Rs 35 per share. The record date for all three is April 23.
April 24 will see Mold‑Tek Technologies and Mold‑Tek Packaging Ltd trading ex‑date for their interim dividends, with the record date set for the same day.
Patanjali Foods' board is slated to meet on April 21 to consider and approve the second interim dividend. The company has set the record and ex‑date on April 24.
Given India's T+1 settlement cycle, shares purchased on the record date will not be eligible for the dividend payment. Therefore, investors who own shares a day before the record date will be the beneficiaries.
Dividends are a way for companies to reward shareholders. It is the portion of profits that a company distributes to its shareholders and is essentially a return on the investment shareholders make in the company's equity. Such payments are made through final, interim, and special dividends.
Dividends are taxable in the hands of the shareholders, and companies are no longer required to pay the Dividend Distribution Tax (DDT). The TDS on dividend income for resident individuals is 10% if the dividend amount exceeds Rs 5,000 in a financial year.
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