Dividend Calendar

What do ex-date and record date actually mean?

The ex-dividend date is the cutoff for eligibility you need to already own the stock before this date to receive the upcoming payout; buying on or after it means the seller keeps that dividend, not you. The record date is when the company officially checks its shareholder register to finalise who gets paid. With India's move to faster settlement cycles, these two dates increasingly fall on the same day, though it's still worth checking both.

Interim vs final dividends

An interim dividend is declared by the board partway through the financial year, typically alongside quarterly or half-yearly results, without needing shareholder sign-off. A final dividend is proposed after the full year's results and must be approved by shareholders at the Annual General Meeting before it's actually paid out.

A note on "dividend chasing"

Buying a stock right before the ex-date doesn't create free money the share price typically drops by roughly the dividend amount on the ex-date itself, since the company's cash balance has just gone down. Dividends are best thought of as part of a company's total return over time, not a short-term trade to time around.