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Dividend, stock split: Asian Paints, Indian Bank & 3 others to go ex-date
Shares trading ex-date for final dividend
Asian Paints has declared a final dividend of ₹20.55 per share, Indian Bank ₹16.25, Johnson Controls-Hitachi Air Conditioning India ₹15, and Tata Investment Corporation ₹27 per share, according to corporate action data on BSE.
A final dividend is the amount given by a company to its shareholders after the end of its financial year, based on its full-year profits, and approved by shareholders at the Annual General Meeting (AGM).
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Stock split
Apart from that, Vesuvius India will trade ex-date for its stock split of 1:10 ratio. The shareholders will receive 10 equity shares of ₹1 each, fully paid-up, for 1 equity share of ₹10 each, fully paid-up, held by them as on the "record date", upon subdivision/split.
The ex-date (or ex-split date) is the date on or after which a stock trades without the value adjustment for a stock split.
The ex-date marks the day a stock starts trading without the eligibility for dividends, bonus shares, stock splits, or rights issues. This means that investors who purchase the stock on or after the ex-date will not be entitled to these benefits. To be eligible, an investor must hold the stock before the ex-date. However, the final list of beneficiaries for dividends, stock splits, or rights issues is prepared by the company based on shareholders recorded at the close of the record date.
Will investors be eligible to receive dividends, stock splits, or bonus shares if they purchase shares on the ex-date or record date?
No, they won't be eligible for dividends, stock splits, or bonus shares if they buy the stock on the ex-date or record date. To qualify, one must purchase the shares at least one trading day before the ex-date, due to the T+1 settlement cycle in India.
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