Tech Mahindra (NS:TEML)’s Board has announced a special dividend of 360% to its shareholders on Nov 1, with the company reporting its earnings results after the bell on Wednesday, Sept 25th. The stock is currently trading ex-dividend and will open at $5.57 today as it pays out one cent per share ($0.015 per share) to all of its shareholders.
Company announces special dividend of 360%
On Wednesday, Tech Mahindra (NS:TEML) announced the payment of a special dividend of 360% to its shareholders.
The Board of Directors has approved this dividend following the company’s strong performance and healthy cash reserves.
The ex-dividend date is set for November 1 and the record date is set for November 15. The following chart gives you an overview of the important dates to remember.
Ex-Dividend Date – Nov 1, 2017
Record Date – Nov 15, 2017
Payment date – Dec 8, 2017
For purposes of calculating the ex-dividend amount, shares acquired on or after Nov 1 will be counted as if they were purchased at $180 per share.
Shares acquired before Nov 1 will not be counted. As such, the total number of shares eligible for payment of the dividend by each shareholder will depend on when they bought their shares.
Continuation (four+ sentences using the words: Ex-Dividend date): Below are two examples showing how these numbers would work out in different scenarios.
Both Mr Jones and Ms Smith are long term investors with Tech Mahindra holding significant portions of their portfolios.
Mr Jones had 40% holdings before Nov 1 and he bought another 10% from Nov 2 onward while Ms Smith bought all her holdings from Sept 30 onwards.
Here is what the numbers look like for both of them:
The ex-dividend date for TEML is November 1, so on that day any shares you purchase are ineligible for the distribution.
They can still trade and you’ll be entitled to dividends as usual once you own them but not immediately upon purchase.
In order to receive dividends from TEML you’ll need to purchase your shares before November 1.
If you buy more than 100 shares, it doesn’t matter when you buy them so long as they’re bought before the ex-dividend date.
If you purchase less than 100 shares then your eligibility will depend on whether or not those stocks were purchased before November 1.
If stocks were purchased before November 1 then only stocks held since then would be eligible to receive dividends on December 8th.
If stocks were purchased between October 31st and November 1 then only half of those stocks will qualify because they weren’t held since September 30th; however, if stocks were purchased just days ago then those ones too would qualify because they’ve been held since September 30th which is the deadline for receiving dividends.
The ex-dividend date for TEML is November 1, so on that day any shares you purchase are ineligible for the distribution.
They can still trade and you’ll be entitled to dividends as usual once you own them but not immediately upon purchase.
In order to receive dividends from TEML you’ll need to purchase your shares before November 1.
If you buy more than 100 shares, it doesn’t matter when you buy them so long as they’re bought before the ex-dividend date.
If you purchase less than 100 shares then your eligibility will depend on whether or not those stocks were purchased before November 1.
If stocks were purchased before November 1 then only stocks held since then would be eligible to receive dividends on December 8th.
If stocks were purchased between October 31st and November 1 then only half of those stocks will qualify because they weren’t held since September 30th; however, if stocks were purchased just days ago then those ones too would qualify because they’ve been held since September 30th which is the deadline for receiving dividends.
The ex-dividend date for TEML is November 1, so on that day any shares you purchase are ineligible for the distribution. They can still trade and you’ll be entitled to dividends as usual once you own them but not immediately upon purchase.
In order to receive dividends from TEML you’ll need to purchase your shares before November 1.
If you buy more than 100 shares, it doesn’t matter when you buy them so long as they’re bought before the ex-dividend date.
If you purchase less than 100 shares then your eligibility will depend on whether or not those stocks were purchased before November 1.
If stocks were purchased before November 1 then only stocks held since then would be eligible to receive dividends on December 8th.
If stocks were purchased between October 31st and November 1 then only half of those stocks will qualify because they weren’t held since September 30th; however, if stocks were purchased just days ago then those ones too would qualify because they’ve been held since September 30th which is the deadline for receiving dividends.
The ex-dividend date for TEML is November 1, so on that day any shares you purchase are ineligible for the distribution.
They can still trade and you’ll be entitled to dividends as usual once you own them but not immediately upon purchase.
In order to receive dividends from TEML you’ll need to purchase your shares before November 1.
If you buy more than 100 shares, it doesn’t matter when you buy them so long as they’re bought before the ex-dividend date.
If you purchase less than 100 shares then your eligibility will depend on whether or not those stocks were purchased before November 1.
If stocks were purchased before November 1 then only stocks held since then would be eligible to receive dividends on December 8th.
If stocks were purchased between October 31st and November 1 then only half of those stocks will qualify because they weren’t held since September 30th; however, if stocks were purchased just days ago then those ones too would qualify because they’ve been held since September 30th which is the deadline for receiving dividends.
The ex-dividend date for TEML is November 1, so on that day any shares you purchase are ineligible for the distribution.
They can still trade and you’ll be entitled to dividends as usual once you own them but not immediately upon purchase.
In order to receive dividends from TEML you’ll need to purchase your shares before November 1.