Dividend (Praj industries)

General
1

Hello,

I am holding 1320 shares of Praj industries, who has declared a dividend of Rs.1.62/share.But I have not received that yet.

Can you please guide me on what to do?

Thanks

2

Hi @ricky,

There’s a time difference between the dividend declaration date and the actual dividend payout date. If you are eligible for the dividend, you’ll receive it on your bank account when the company starts making the payout of such dividends.

3

Is there any rule that if someone is holding more than 1000 shares(or any other number)he should receive dividend via cheque while someone holding lesser than 1000 shares will receive dividend directly credited to bank?

4

When you open a demat account, you’ve to specify the mode in which you wish to receive dividends - electronic/check. Most DP’s will opt for Electronic payments for the demat accounts that they open because it’s easier for the client and safer as well. So if the Dividend flag is electronic, you’ll receive dividends through an online transfer.

In the event that the bank details updated by DP are incorrect, then even if the flag is ‘electronic’ you will not receive dividend to your bank account electronically and will receive a check instead.

3 Likes
5

Whether you get the dividend also depends on whether you purchased the shares before or after the record date.

6

@VenuMadhav
I had an Orient Bank as a primary bank in Zerodha and the bank merged with PNB currently I have updated the new IFSC & MICR in Zerodha as per the PNB bank records.
If my bank MICR code is updated in Zerodha DP, Then how many days will be required to update the same on RTA records?