After the market closed on Friday, three companies announced their record dates for dividends. The record date for Glenmark Pharmaceuticals has been set for September 15, for Indo Amines on September 17, and for Pitti Engineering on September 19. After approval at the AGM, dividends will be paid to shareholders within the stipulated time.
Dividend: Good news for investors in the stock market. On Friday, several companies provided updates related to their corporate actions, with three companies setting their record dates for dividends. Glenmark Pharmaceuticals from the pharma sector has set September 15, specialty chemical company Indo Amines has set September 17, and Pitti Engineering, a small-cap company in the industrial products segment, has announced September 19 as the record date. Following approval at the AGM, dividends will be paid to investors within the specified timeframe.
Glenmark Pharmaceuticals Sets Record Date
Glenmark Pharmaceuticals, a major company in the pharma sector, has provided important information regarding its dividend. The company has set the record date for its dividend for the past fiscal year as September 15. This means that those who hold the company's shares by this date will be eligible to receive the dividend.
The company's Annual General Meeting (AGM) will be held on September 26. At this meeting, the dividend proposal will receive final approval. After approval, the dividend will be paid to investors.
Indo Amines Also Announces Final Dividend
Indo Amines, a company in the specialty chemical sector, has also given its shareholders an update related to dividends. The company has set the record date for its final dividend as September 17. This means that shareholders who remain so until this day will receive the company's dividend.
At the time of market closing on Friday, Indo Amines' share closed with a decline of approximately 2 percent. The company had announced the dividend based on its results for the past fiscal year, and the necessary process for its payment has now begun.
Pitti Engineering's Record Date is September 19
Pitti Engineering, a small-cap company operating in the industrial products segment, has also declared its record date for dividends. According to the company, the record date will be September 19. The company's AGM will be held on September 26.
Following the approval of the dividend proposal at this meeting, the dividend will be paid within 30 days. On Friday, Pitti Engineering's share closed down by 2 percent at 928 rupees.
Why Record Dates are Important for Investors
Only those investors who hold a company's shares by the record date benefit from the dividend announced by any company. The record date is the date on which the company determines which investors will receive the dividend. If an investor buys shares after the record date, they will not receive the dividend benefit.
This is precisely why investors keep a close watch on record dates in the market. During this period, fluctuations are also observed in the shares as many investors buy shares to receive the dividend and then sell them later to book profits.
Focus on Shares of All Three Companies
At the closing of the market on Friday, the shares of all three companies witnessed a decline. Glenmark Pharmaceuticals closed down by half a percent at 1924 rupees. Indo Amines closed with a decline of approximately 2 percent. Meanwhile, Pitti Engineering's share also fell by about 2 percent to reach 928 rupees.
However, in the coming trading days, activity may be seen in these shares following the announcement of dividends and the setting of record dates. Dividends are a source of attraction for investors, and often they lead to an increase in share prices.
