- Shares of IDBI Bank, Mahindra & Mahindra Financial Services, and others have ex/record date on July 15
- Investors must buy shares by July 14 to qualify for dividends under India's T+1 settlement cycle
- Ex-dividend date usually coincides with the record date and affects share price adjustment
Shares of IDBI Bank, Mahindra & Mahindra Financial Services Ltd., Computer Age Management Services Ltd. and five other companies will be of interest on Monday as it marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
For a dividend, 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 15, then shares must be purchased by July 14.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
On July 15, several companies have their ex/record date for various dividends.
This includes Aditya Birla Real Estate with a final dividend of Rs 2, Computer Age Management Services with a final dividend of Rs 19, IDBI Bank with a final dividend of Rs 2.1, and Mahindra & Mahindra Financial Services with a final dividend of Rs 6.5.
Moreover, Energy Infrastructure Trust will record unitholders for an Income Distribution (InvIT).
Shareholders who wish to be eligible for these dividends must own the shares before the specified record date.
Dividends are a way for companies to reward their shareholders.
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