Shares of Patanjali Foods Ltd., Concord Biotech Ltd., Asahi India Glass Ltd., Prestige Estates Projects Ltd. are among the 12 companies will be of interest on Tuesday, as it marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
The record date determines shareholder eligibility for receiving a dividend.
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 Sept. 3, then shares must be purchased by Sept. 2.
The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
