Glenmark Pharmaceuticals Ltd. will be of interest on Wednesday, as it marks the last session for investors to buy shares to qualify for receiving the interim dividend before the stock goes ex/record-date.
The record date determines shareholder eligibility to receive a dividend. Under India's T+1 settlement cycle, shares purchased on the record date itself will not qualify for the dividend payment.
Hence, as the record date of Glenmark Pharma interim dividend is Oct. 3, then shares must be purchased by Oct. 1 since Oct. 2 is a stock market and settlement holiday.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
The board approved the interim dividend of Rs 2.5 per equity share on face value of Rs 1 per equity share for the financial year 2026 amounting to Rs 70.5 crore. The interim dividend will be paid within 30 days from the date of the declaration.
The Glenmark Pharma stock has risen 22% on a year-to-date basis and 18% in the last 12 months.
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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