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6h ago

Nov. 3 Is Final Buying Day to Qualify for Dividends at Coal India, Mazagon Dock, RailTel and Happiest Minds

Because of India's T+1 settlement cycle, purchases on the Nov. 4 record date will not qualify for these interim payouts.

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Overview

  • Coal India declared an interim dividend of Rs 10.25 per share, Mazagon Dock Rs 6, Happiest Minds Rs 2.75 and RailTel Rs 1.
  • The record and ex-dividend date for all four companies is Nov. 4, making Monday the effective cutoff for eligibility.
  • Investors must own shares by the close of trading on Nov. 3, as Nov. 4 purchases will settle after the record date.
  • On the ex-dividend date, share prices typically adjust to reflect the impending cash distribution.
  • Dividend income is taxable to shareholders, with 10% TDS for resident individuals once annual dividends exceed Rs 5,000.