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Indian stocks set Friday record dates for dividends and splits
Midwest Energy announced a 10:1 split, while Naturite Agro Products fixed a split record date as well under India’s T+1 settlement.
Indian equities are likely to stay focused on corporate-action record dates as six companies set Friday, September 25 as the cutoff for shareholders to receive dividends and participate in stock splits.
According to LiveMint Markets, shares of D S Diagnostics Ltd, LGT Global Hospitality Ltd, Sri Lotus Developers and Realty Ltd, Naturite Agro Products Ltd, and Noble Polymers Ltd will be in focus for payouts, with Midwest Energy Ltd additionally drawing attention for its upcoming share subdivision.
Midwest Energy said its board approved a 10:1 stock split, moving from a ₹10 face value per share to Re 1 shares, meaning each existing share will be subdivided into 10 shares. Naturite Agro Products, meanwhile, fixed Friday as its record date for a stock split from ₹10 to ₹5.
With India operating on a T+1 settlement cycle, LiveMint Markets notes that Thursday, September 24 effectively becomes the last day for investors to qualify for these corporate actions, a timing detail investors are watching amid continued market volatility.