Shares of Tata Technologies Ltd., GHCL Ltd., HDB Financial Services Ltd., Vimta Labs Ltd., JSW Infrastructure Ltd., Capital Small Finance Bank Ltd., Swastika Investmart Ltd., Monika Alcobev Ltd., will be of interest on Wednesday, 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.
The record date determines the eligible shareholders who will receive the dividend payment. The ex-dividend date, which mostly coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
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Capital Small Finance Bank Ltd. has declared a final dividend of Rs 5 per share, while eMudhra Ltd. will pay Rs 1.25 per share. GHCL Ltd. has announced a relatively higher payout of Rs 12 per share.
Among others, HDB Financial Services Ltd. and Vimta Labs Ltd. have each declared final dividends of Rs 2 per share. JSW Infrastructure Ltd. will distribute Rs 0.90 per share, while Monika Alcobev Ltd. and Swastika Investmart Ltd. have announced payouts of Rs 1 and Rs 0.60 per share, respectively.
Tata Technologies Ltd stood out with a dual announcement which is a final dividend of Rs 8.35 per share along with a special dividend of Rs 3.35 per share, taking its total payout higher.
The record date for all these dividends is June 18.
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T+1 Settlement Cycle
Given India's T+1 settlement cycle, shares purchased on the record date (June 18 in this case) will not be eligible for the dividend payment. Therefore, investors who own shares by June 17 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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