- Supreme Industries leads with a final dividend of Rs 25 per share announced
- Record date for dividend eligibility of these stocks is June 26, shares must be held by June 25
- Nippon Life AMC, IndusInd Bank, and others also declared final dividends for shareholders
Shares of Supreme Industries Ltd., CARE Ratings Ltd., Nippon Life India Asset Management Ltd., GIC Housing Finance Ltd., IndusInd Bank Ltd. and more will be of interest on Thursday, as the day marks the last session for retail investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
Among the highest dividend declarations, Supreme Industries Ltd. has announced a final dividend of Rs 25 per share, followed by CARE Ratings Ltd. at Rs 14 per share and Alkyl Amines Chemicals Ltd with a payout of Rs 10 per share.
In the financial space, Nippon Life India Asset Management Ltd. declared a final dividend of Rs 12.5 per share, while GIC Housing Finance Ltd. and IndusInd Bank Ltd announced dividends of Rs 4.5 per share and Rs 1.5 per share, respectively.
Healthcare companies also featured in the list, with Dr. Lal PathLabs Ltd declaring a dividend of Rs 4 per share and Syngene International Ltd announcing Rs 1.25 per share.
Other notable announcements include Allied Blenders and Distillers Ltd at Rs 5.4 per share, S.J.S. Enterprises Ltd at Rs 3.5 per share, and Uflex Ltd, which declared a dividend of Rs 3 per share.
Meanwhile, Sona BLW Precision Forgings Ltd announced a payout of Rs 1.8 per share, while Vaibhav Global Ltd and IndusInd Bank Ltd both declared dividends of Rs 1.5 per share. Visaka Industries Ltd rounds off the list with a final dividend of Rs 1.2 per share.
The record date for all these stocks is June 26.
T+1 Settlement Cycle
Given India's T+1 settlement cycle, shares purchased on the record date (June 26 in this case) will not be eligible for the dividend payment. Therefore, investors who own shares by June 25 will be the beneficiaries.
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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