Swaraj Engines, M&M, Bharat Forge, SKF India, Exide, Biocon — Dividend Record Date Last Day To Buy Shares To Qualify

Shares of Mahindra & Mahindra, Tech Mahindra, Swaraj Engines, Bharat Forge, SKF India, Shriram Finance, Union Bank of India, Escorts Kubota, Exide Industries, Biocon, Thermax, 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.

A total of 35 companies across sectors such as automobiles, pharmaceuticals, financial services, engineering, technology and manufacturing have fixed July 3 as the record date for determining eligible shareholders for dividend payments.

Swaraj Engines Ltd. tops the list with a final dividend of Rs 110 per share, while JSW Dulux Ltd. has declared a final dividend of Rs 50 per share. Among large-cap names, SKF India Ltd. will pay Rs 40 per share, Tech Mahindra Ltd. has announced Rs 36 per share, and both Mahindra & Mahindra Ltd. and Escorts Kubota Ltd. have declared final dividends of Rs 33 per share each.

Other notable payouts include SML Mahindra Ltd's final dividend of Rs 23.50 per share, Gloster Ltd's dividend of Rs 20 per share, and Thermax Ltd's total payout of Rs 20 per share, comprising a final dividend of Rs 14 per share and a special dividend of Rs 6 per share. The record date for all of these is July 3. Here's the full list:

T+1 Settlement Cycle

Given India's T+1 settlement cycle, shares purchased on the record date (July 3 in this case) will not be eligible for the dividend payment. Therefore, investors who own shares by July 2 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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