Shares of Multi Commodity Exchange of India Ltd., Indian Oil Corp., Hindalco Industries Ltd., Ceat Ltd., Mankind Pharma Ltd. and 26 other companies will be of interest on Thursday, as it marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
For a dividend, investors should note the record date that determines shareholder eligibility.
Under India’s T+1 settlement cycle, shares purchased on the record date itself will not qualify for the dividend payment. Hence, if the record date of a dividend stock is Aug. 8, then shares must be purchased by Aug. 7.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
