Shares of major public sector undertakings like Oil and Natural Gas Corp., Power Grid Corp. and Gail India Ltd. will be 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/record-trade. The record date will determine the eligible shareholders, who will receive the dividend payment.
Last week, ONGC announced its second interim dividend of Rs 5 per share for the current financial year. The company has set Feb. 7 as the record date for the dividend.
Power Grid will also give a second interim dividend of Rs 3.25 per equity share for fiscal 2025. The record date for determining eligible shareholders is Feb. 7, and the dividend will be paid on Feb. 28.
An interim dividend of Rs 6.5 per share will be paid by Gail India to shareholders.
Given India's T+1 settlement cycle, shares purchased on the record date (Feb. 7 in this case) itself will not be eligible for the dividend payment. Therefore, investors who own shares by Feb. 6 will be the beneficiaries.
Other companies that will trade ex/record-dividend on Friday are Nestle India Ltd. (Rs 14.25), Garden Reach Shipbuilders Ltd. (Rs 8.95), Marico Ltd. (Rs 3.5), NLC India Ltd. (Rs 1.5), KPR Mill Ltd. (Rs 2.5), Shyam Metalics and Energy Ltd. (Rs 2.25), Tube Investments of India Ltd. (Rs 2), Steelcast Ltd. (Rs 1.8), Shanthi Gears Ltd. (Rs 3), Quess Corp. (Rs 4), Kisloskar Pneumatic Ltd. (Rs 3.5), Gateway Distriparks Ltd. (Rs 0.75), Cholamandalam Investment and Finance Co. (Rs 1.3) and CAMS Ltd. (Rs 17.5).
Dividends are a way for companies to reward their shareholders.
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