Shares of major public sector undertakings like NTPC Ltd., Coal India Ltd. and RITES Ltd. were in the spotlight on Thursday, as the day marks the last session for investors to buy shares to qualify for receiving interim dividends before the stock goes ex-trade. The record date will determine the eligible shareholders who will receive the dividend payment.
Earlier this week, Coal India announced a second interim dividend of Rs 5.6 per equity share for the current financial year. The company has set Jan. 31 as the record date for the dividend and the payment for the same will be made by Feb. 26.
NTPC will issue a second interim dividend of Rs 2.5 per equity share. The company has set Jan. 31 as the record date for the dividend and the payment for the same will be made by Feb. 24.
A second interim dividend of Rs 1.9 per share for RITES shareholders will be paid by Feb. 27.
Given India's T+1 settlement cycle, shares purchased on the record date (Jan. 31 in this case) itself will not be eligible for the dividend payment. Therefore, investors who own shares by Jan. 30 will be the beneficiaries.
Other companies that will trade ex-dividend on Friday are Indian Energy Exchange Ltd. (Rs 1.5), Motilal Oswal Financial Services Ltd. (Rs 5), Persistent Systems Ltd. (Rs 20), Route Mobile Ltd. (Rs 3), Shriram Finance Ltd. (Rs 5) and Torrent Pharma Ltd. (Rs 26).
Indraprastha Gas Ltd. will also be in focus ahead of a bonus issue in the ratio 1:1. The ex and record date is Jan. 31, so investors must own shares by today.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
