Hi I had 170 shares of Infy however I sold them on 31st Oct (Ex date). I didn’t receive any dividend. What should I do?
Both the intermin dividend and buyback had a record date of 1 Nov. So you are eligible for both. The dividend will be credited directly to your bank account by the RTA. This could take upto 2 working weeks from the record date.
Infosys dividend was credited on Saturday
@Srinivas, Dividend is already credited on saturday for others.
Do you think I shall wait for the dividend? Do they credit in tranches?
11 Nov was a second saturday, which was a bank holiday. Don’t know how they processed dividend payments. Maybe they do IMPS, but yes you’ll have to wait for the dividend. You could contact the RTA but they are usually very inaccessible.
I got a sms from CDSL on 1st Nov stating shares have been debited. Is it the reason why dividend was not paid? How can they debit shares on T+1 making someone ineligible for dividend.
When did you sell the shares?
I sold it on 31st Oct ( Ex dividend date)
Since you sold on ex-date, the shares were still in your Demat on record date. So you are eligible and will receive the dividend. Just hold on for a few days, dividend credits can take upto 2 weeks from record date.
It was 4th November, not 11 November
What was 4th November?
11 November is 4 days from today. The Infosys dividend was credited on 4th November, which is first Saturday and hence not a bank holiday
You must have kept them on the ex day.
Why should I keep it on Ex date to receive dividend? Then what’s the purpose of ex-date. If that is the case then someone who bought on ex-date would receive dividend right?
Please don’t confuse yourself, everyone who has shares in their Demat account as of 1 Nov(record date) will receive the dividend. Wait the week out, you could get the dividend credit anytime. Also it’ll come directly to your bank account.
Below is the response from Karvy. Out of my 205 shares, sold 170 on 31st (Ex date). How can CDSL debit my account for 170 shares on 1st itself making me ineligible for dividend?
Dear Sir,
At the outset, we regret the inconvenience caused and wish to inform that as per the beneficiary download received by us from the depositories as on 01.11.2017 (Record Date) your holding was reflected as 35 shares only. Accordingly, dividend was paid on 35 shares only.
You may kindly take up the matter with your depository participant.
If you sell it on ex-dividend date, the dividend might have gone to the Zerodha pool account and they might have credited it to your ledger.