Glenmark Pharma Interim Dividend: A Last Chance to Buy and Qualify
Glenmark Pharmaceuticals Ltd. will be in focus on Wednesday, as it marks the last session for investors to buy shares and qualify for receiving the interim dividend before the stock goes ex-dividend/record-date. The record date determines shareholder eligibility to receive a dividend, and under India’s T+1 settlement cycle, shares purchased on the record date itself will not qualify for the dividend payment.
Understanding the Record Date and Ex-Dividend Date
The record date is set as October 3, which means shares must be purchased by October 1, as October 2 is a stock market and settlement holiday. The ex-dividend date, which typically coincides with the record date, marks when the share price adjusts to reflect the upcoming payout. This is an important consideration for investors looking to buy or sell shares, as the ex-dividend date can impact the stock price.
Glenmark Pharma’s Interim Dividend Details
The board approved the interim dividend of Rs 2.5 per equity share on a face value of Rs 1 per equity share for the financial year 2026, amounting to Rs 70.5 crore. The interim dividend will be paid within 30 days from the date of the declaration. This payout is a way for the company to reward shareholders and distribute a portion of its profits.
Dividend Investing in the Indian Stock Market
Dividends are a way for companies to reward shareholders, and they can be an attractive option for investors looking for regular income. However, it’s essential to understand the tax implications of dividend investing. Dividends are taxable in the hands of the shareholders, and companies are no longer required to pay the Dividend Distribution Tax (DDT). The TDS on dividend income for resident individuals is 10% if the dividend amount exceeds Rs 5,000 in a financial year.
Glenmark Pharma’s Stock Performance
The Glenmark Pharma stock has risen 22% on a year-to-date basis and 18% in the last 12 months. This strong performance makes it an attractive option for investors looking to buy and hold shares for the long term. However, it’s essential to consider the company’s fundamentals, industry trends, and overall market conditions before making any investment decisions.
Key Takeaways for Investors
- The record date for Glenmark Pharma’s interim dividend is October 3, and shares must be purchased by October 1 to qualify for the payout.
- The ex-dividend date typically coincides with the record date and marks when the share price adjusts to reflect the upcoming payout.
- Dividends are taxable in the hands of the shareholders, and companies are no longer required to pay the Dividend Distribution Tax (DDT).
- Glenmark Pharma’s stock has performed well in the last year, but it’s essential to consider the company’s fundamentals and industry trends before making any investment decisions.
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