The ‘Trade-plus-One’ (T+1) settlement cycle has been effectively implemented in the top listed securities in India from January 27th, 2023. Market experts believe that the T+1 settlement system will allow the money cycle to move faster without waiting for an extra day.
Here are 7 stocks that will trade ex-dividend next week:
CCL Products India Ltd
It will pay an interim dividend of 150% of the face value of Rs 2 which amounts to Rs 3 per share. The ex-dividend date and the record date for the purpose are set as January 31st. The shares of the company traded at Rs 521 levels on Monday.
CCL Products (India) is engaged in the production, trading, and distribution of Coffee. It has a market capitalization of Rs 6,857 Crore and a dividend yield of 0.97%.
Wendt (India) Ltd
It will pay an interim dividend of 300% of the face value of Rs 10 which amounts to Rs 30 per share. The ex-dividend date and the record date for the purpose are set as January 31st. The shares of the company traded at Rs 8,231 levels on Monday.
Wendt India is a leading manufacturer of Super Abrasives, Machining Tools, and Precision Components. It has a market capitalization of Rs 1,622 Crore and a dividend yield of 0.80%.
DCM Shriram Ltd
It will pay an interim dividend of 290% of the face value of Rs 2 which amounts to Rs 5.8 per share. The ex-dividend date and the record date for the purpose are set as February 1st. The shares of the company traded at Rs 854 levels on Monday.
DCM Shriram is a part of the DCM group and runs two businesses i.e, energy intensive and agribusiness. It is also the third largest manufacturer of Chlor-Alkali in India. It has a market capitalization of Rs 13,644 Crore and a dividend yield of 1.68%.
TVS Motor Company Ltd
It will pay an interim dividend of 500% of the face value of Rs 1 which amounts to Rs 5 per share. The ex-dividend date and the record date for the purpose are set as February 1st. The shares of the company traded at Rs 1,025 levels on Monday.
TVS Motor Company is an Indian multinational motorcycle company. It is the third-largest motorcycle company in India. It has a market capitalization of Rs 49,922 Crore and a dividend yield of 0.36%.
Torrent Pharmaceuticals Ltd
It will pay an interim dividend of 280% of the face value of Rs 5 which amounts to Rs 14 per share. The stock will trade ex-dividend on February 2nd and the record date is set as
February 3rd. The shares of the company traded at Rs 1,556 levels on Monday.
Torrent Pharmaceuticals Ltd is an Indian multinational pharmaceutical company, owned by Torrent Group. It has a market capitalization of Rs 52,032 Crore and a dividend yield of 3.12%.
Saregama India Ltd
It will pay an interim dividend of 300% of the face value of Rs 1 which amounts to Rs 3 per share. The ex-dividend date and the record date for the purpose are set as February 2nd. The shares of the company traded at Rs 340 levels on Monday.
Saregama India Ltd is India’s oldest music label owned by the RP- Sanjiv Goenka Group of companies. It has a market capitalization of Rs 6,830 Crore and a dividend yield of 0.85%.
Motilal Oswal Financial Services Ltd
It will pay an interim dividend of 700% of the face value of Rs 1 which amounts to Rs 7 per share. The stock will trade ex-dividend on February 3rd and the record date is February 4th. The shares of the company traded at Rs 672 levels on Monday.
Motilal Oswal Financial Services Limited is an Indian financial services company offering a range of financial products and services. It has a market capitalization of Rs 10,056 Crore and a dividend yield of 1.47%.
Here are some Frequently Asked Questions (FAQs) asked about dividend stocks:
What is the Ex-date for dividends?
The ex-dividend date is the day when a stock becomes ex-dividend. It means that when a stock goes ex-dividend, the value of its next dividend payment is not carried. It is important to note that the investor must hold the stock on the ex-date to be eligible for dividend payment.
With the T+1 settlement being implemented from January 27th, 2023 an investor can now buy the shares of the company one day before the ex-date and still be eligible to receive the shares.
What is the Record date for dividends?
A record date is a date on which the company checks its records to identify shareholders of the company. An investor must be listed on that date to be eligible for a dividend payout. It generally comes after a day or two of the ex-date.
Will I get dividends if I buy on ex-date?
For stocks, the ex-dividend date is usually set one business day before the record date. Therefore, if an investor buys a stock on or after the ex-dividend date, they will not be eligible to receive the dividend payment.
Will I get a dividend if I sell on the record date?
Since the investor will remain in the books of the company on the record date, the investor shall still be eligible to receive dividends after selling on the record date.
Written by Anoushka Roy
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