Now Reading: Last day today to buy these 4 stocks for dividend
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Last day today to buy these 4 stocks for dividend
September 23 is the last trading day for investors to buy shares of Shri Venkatesh Refineries, Engineers India, Arfin India and Adtech Systems and qualify for their upcoming dividends. All four companies…
September 23 is the last trading day for investors to buy shares of Shri Venkatesh Refineries, Engineers India, Arfin India and Adtech Systems and qualify for their upcoming dividends. All four companies have fixed September 24 as the record date to determine eligible shareholders, and under the T+1 settlement cycle, shares bought on September 23 will settle in time.
Engineers India has declared a final dividend of Rs 2.50 per share, Adtech Systems has announced a final dividend of Rs 1.10 per share, Shri Venkatesh Refineries has declared a final dividend of Rs 1.00 per share, and Arfin India has announced an interim dividend of Rs 0.12 per share.
Meanwhile, the broader market has turned volatile after the Nifty and Sensex ended a four-day winning streak. Analysts at Bajaj Broking said the index is consolidating in a 23,115-23,650 range and needs to reclaim 23,650 to signal a pause in the downtrend.
Indian Opinion Analysis
The T+1 settlement cycle means an investor who buys a stock on the record date itself does not qualify for the dividend, the trade settles only the next day. Companies set a record date to close the shareholder register for a specific corporate action, and the exchange's like-to-like precedent confirms that only holders as of the previous day receive the payout. Between today and the September 24 record date, roughly Rs 1.10 per share for Adtech, Rs 0.12 for Arfin, Rs 2.50 for Engineers India and Rs 1.00 for Shri Venkatesh Refineries are at stake. The Nifty's consolidation range of 23,115, 23,650, as tracked by analysts, will determine whether broader market sentiment helps or hinders the share price on ex-dividend day. The actual ex-dividend date, when the stock price adjusts downward by the dividend amount, follows the record date under the exchange's framework.
Source: livemint.com
This brief was synthesised by AI from the source linked above.
