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SAIL and Saraswati Saree Depot set Sept. 30 dividend record dates
Investors needed to buy the shares by Tuesday, Sept. 28 to qualify because India follows a T+1 settlement cycle.
LiveMint Markets highlights that Steel Authority of India Limited and Saraswati Saree Depot Limited have fixed their dividend record date for Sept. 30, setting up increased attention in Tuesday’s trading session.
Because the Indian market operates on a T+1 settlement cycle, investors needed to own the shares before the Sept. 30 record date, making Tuesday, Sept. 28 effectively the last day to qualify for the payout, according to LiveMint Markets.
LiveMint Markets also notes that SAIL announced a dividend of ₹2.35 per equity share and set the dividend record date for Wednesday, Sept. 30. The outlet adds that SAIL shares closed at ₹184.45 on BSE on Tuesday, with an ROE of 7.68%.