Infosys, L&T Tech, REC, CESC Dividends: Last Day To Buy Shares To Qualify

Shares of Infosys Ltd., L&T Technology Services Ltd., REC Ltd., and CESC Ltd. are among the eight that will be of interest on Friday, 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. REC and Central Bank of India are the two PSU stocks giving a dividend.

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 these dividend stocks is Oct. 27, then shares must be purchased by Oct. 24.

The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.

• Infosys: Interim Dividend - Rs 23

• L&T Technology Services: Interim Dividend - Rs 18

• REC: Interim Dividend - Rs 4.6

• CESC: Interim Dividend - Rs 6

• 360 ONE WAM: Interim Dividend - Rs 6

• Central Bank of India: Interim Dividend - Rs 0.2

• CRISIL: Interim Dividend - Rs 16

• PCBL Chemical: Final Dividend - Rs 6

• Tanla Platforms: Interim Dividend - Rs 6

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.