Adjustments in F&O contracts of ONGC on account of extraordinary dividend 2025

[Shubhanshu]

@Shivam_Gupta

ONGC has recently announced a dividend of ₹6.25 per share, with the record date set as 18th February 2026. The current market price (CMP) of ONGC is around ₹270, which results in a dividend yield of approximately 2.4% (> 2%).

1. Could you please clarify when ONGC will begin trading at the dividend adjusted price?
2. I would like to understand whether the option strike prices will be adjusted to account for the dividend amount, and if so, when this adjustment will take place.
   Thanks

Since the ₹6.25 dividend is more than 2% of ONGC’s market price, it is treated as an extraordinary dividend, so the exchange will adjust F&O contracts on the ex-date (18 Feb 2026).

Futures positions will be carried forward at the previous settlement price minus ₹6.25 after MTM on 17 Feb.

All option strike prices will also be reduced by ₹6.25 on the ex-date, while lot size remains unchanged.

You can refer to this detailed TradingQnA post for the exact adjustment mechanics, it explains futures MTM and strike revision clearly.

Adjustments in F&O contracts of ONGC on account of extraordinary dividend 2026

The Board of Directors of Oil & Natural Gas Corporation Limited (ONGC) has declared a dividend of ₹6.25 per equity share, with the ex-dividend date being February 18, 2026. SEBI has prescribed a framework for exchanges to adjust derivative contracts at the time of corporate actions. The exchange has published detailed guidelines on such adjustments. As per this framework, if a company declares a dividend that is equal to or more than 2% of the market value of the underlying security, it is trea…