Glenmark Pharmaceuticals Ltd. is the only company to trade ex-dividend this week. The company will issue an interim dividend of Rs 2.5 on Oct. 3.
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 Oct. 3, then shares must be purchased by Oct. 1, as Oct. 2 will be a market holiday on occasion of Gandhi Jayanti.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
To be eligible for dividends, investors should take note of the record date, which determines shareholder eligibility.
Under India’s T+1 settlement cycle, shares purchased on the record date itself will not qualify for the dividend payment. The ex-dividend date, which falls before the record date, marks when the share price adjusts to reflect the upcoming payout.
