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2w ago

Compressed T+1 Cycle Condenses India’s August Ex-Dividend Schedule

Traders are front-loading share purchases under the T+1 settlement cycle to meet record-date deadlines for August dividend payouts across key sectors.

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Dividend, stock split, bonus issues, corporate action

Overview

  • The shift to a T+1 settlement cycle in late June has condensed ex-dividend and record dates into August, reshaping the corporate actions calendar.
  • Major companies including Maruti Suzuki, Eicher Motors, Bharat Heavy Electricals and Varun Beverages went ex-dividend on August 1 with payouts ranging from ₹0.50 to ₹135 per share.
  • This week’s notable ex-dividend events feature Britannia Industries on August 4 (₹75), Coal India’s interim payout on August 6 (₹5.50), and Indian Oil and MCX India on August 8 (₹3 and ₹30 respectively).
  • Investors are eyeing mid- to late-August actions such as Apollo Hospitals’ ₹10 dividend on August 19, HAL’s ₹15 on August 21, and HDFC Bank’s 1:1 bonus issue on August 26.
  • Elevated trading volumes and predictable share price adjustments on ex-dates reflect market participants’ targeted dividend-capture strategies under the compressed T+1 regime.