Synopsis:- Today is the last day to buy five stocks and still qualify for their latest declared dividends, since all of them turn ex-dividend tomorrow under India’s T+1 settlement cycle; the headline percentages look impressive, but the payout stories behind them range from a healthy, well-covered dividend to at least one that has actually been cut year-on-year.
Five stocks across sectors : building products, dairy, steel, broking and pharmaceuticals : will trade ex-dividend tomorrow, meaning today is the last session where buying the shares still secures eligibility for their respective payouts. Under India’s T+1 rolling settlement, the record date and ex-date typically fall on the same day, so investors need to hold shares in their demat account by today’s close. Dividend percentages are calculated on face value, not market price, so the headline “1500%” or “50%” figures need to be read alongside actual per-share yield.
1. Cera Sanitaryware
Cera’s board recommended a final dividend of Rs. 75 on a face value of Rs. 5, with the stock last near Rs. 6,528 apiece and a market capitalisation of roughly Rs. 8,424 crore, working out to a dividend yield of about 1.2 percent. The catch: FY26 net profit fell 17.2 percent to Rs. 204.19 crore even as revenue grew 7 percent to Rs. 2,050.12 crore, meaning the company is paying a large absolute dividend against a shrinking profit base, pushing the payout ratio to an estimated 48 percent from a more typical 38 percent. The company remains almost debt-free, so the payout is comfortably funded, but the margin pressure behind the profit decline is worth watching into FY27.
2. Dodla Dairy
Dodla’s board approved a Rs. 5 final dividend on face value Rs. 10. With the stock near Rs. 1,121 and a market cap of about Rs. 6,760 crore, the yield works out to roughly 0.46 percent. FY26 revenue grew a healthy 10.9 percent to Rs. 4,125.20 crore, but net profit rose just 2.7 percent to Rs. 267 crore, with Q4 EBITDA margin compressing to around 5 percent from management-cited input cost pressure and constrained milk supply. Milk procurement and sales volumes both grew strongly, in double digits, so the business is expanding : margins simply haven’t kept pace, a gap worth tracking once FY27 numbers arrive.
3. JSW Steel
JSW Steel’s Rs. 7.10 dividend on face value Rs. 1 works out to a yield of roughly 0.58 percent at a share price near Rs. 1,242 and a market cap of about Rs. 3,03,652 crore. The payout ratio here is notably low, around 11 percent, typical for a capital-intensive steelmaker reinvesting heavily in capacity. One flag for the numbers: reported earnings include other income of roughly Rs. 18,607 crore, and return on equity over the last three years has averaged under 9 percent : a reminder to separate core steelmaking profitability from non-operating gains when judging the stock’s underlying earnings power.
4. LKP Securities
LKP Securities’ dividend of Rs. 0.20 on face value Rs. 2 works out to a yield of about 1.2 percent at a share price near Rs. 17 and a market cap of roughly Rs. 145 crore. What the “10%” framing obscures is that this is actually a cut from the Rs. 0.30 per share paid a year earlier, alongside a 16 percent year-on-year decline in Q4 FY26 net profit to Rs. 2.26 crore, even though profit rebounded sharply quarter-on-quarter. On a more constructive note, a promoter group entity has been buying shares in the open market recently, lifting promoter holding to over 72 percent.
5. Sun Pharmaceutical Industries
Sun Pharma’s Rs. 5 dividend on face value Re. 1 translates to a yield of about 0.86 percent, with the stock near Rs. 1,902 and a market cap of roughly Rs. 4,56,378 crore. Q4 FY26 revenue grew 12.75 percent year-on-year, but EBITDA growth was a more modest 3 percent, with margins contracting on lower one-time milestone income and a weaker contribution from Lenalidomide, a reminder that some of the company’s recent profit has come from items that don’t repeat every quarter. Working capital days have also stretched from 102 to 185 over recent years, worth watching alongside the company’s pending large acquisition of Organon’s women’s-health business, a deal management has described as earnings-accretive from day one.
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