Dividend Stocks: LTI Mindtree, Tech Mahindra Among 10 Shares With Record Date On October 23; Check Payouts
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Ten stocks are due to turn ex-dividend on Friday, 23 October, with LTI Mindtree announcing the highest payout at ₹25 per share. Tech Mahindra, ICICI Lombard General Insurance and Indian Railway Finance Corporation (IRFC) are among the other companies offering dividends.
Ten companies are set to reach their dividend record date on Friday, 23 October, covering payouts across information technology, financial services, insurance, construction and real estate. LTI Mindtree has announced the highest dividend among the listed companies, while Tech Mahindra and ICICI Lombard General Insurance are also among the prominent names.
Under the Securities and Exchange Board of India’s (SEBI) T+1 settlement cycle, shares must be purchased at least one trading day before the record date to qualify for the dividend. This makes Wednesday, 21 October, the final eligible trading day for investors seeking these payments, subject to the applicable settlement process.
LTI Mindtree, Tech Mahindra Lead Dividend Payouts
LTI Mindtree has declared the largest payout among the companies listed for this record date. The information technology company has announced 22 dividends since 2016, with a dividend yield of 1.75%.
A total of 32 dividend declarations have come from Tech Mahindra since March 2007. The stock’s dividend yield is currently 1.97%.
The table below shows the dividend per share declared by all 10 companies.
Company | Dividend per share |
|---|---|
LTI Mindtree | ₹25 |
Tech Mahindra | ₹15 |
ICICI Lombard General Insurance Company | ₹7 |
360 One WAM | ₹7.50 |
Modison | ₹4 |
HDB Financial Services | ₹2 |
Oberoi Realty | ₹2 |
Indian Railway Finance Corporation (IRFC) | ₹1.15 |
Garuda Construction and Engineering | ₹0.03 |
Artemis Electricals and Projects | ₹0.006 |
What Investors Need To Know About The Record Date
The record date sets the cut-off for dividend eligibility. Under the T+1 settlement system, investors must buy shares early enough for them to be credited within the prescribed settlement period.
The declared dividend is a per-share amount, not the total payout an investor receives. That final sum depends on the number of qualifying shares held and the applicable tax treatment.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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