Company paid out dividend amount for unpledged shares. What happens to the dividend on pledged shares?
When you pledge shares, although the shares aren’t in your possession, you will still be entitled to receive benefits of all corporate actions since you’re the ultimate beneficial owner of such shares.
The broker will pass on such dividends to your account.
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Hi Venu,
I am holding few shares of GMDC which were already in pledged state on 21st Sep, 2016.
21th Sep, 2016 was the Ex-Dividend date to receive a dividend of Rs. 3 per share.
Till date (18th Oct, 2016), no dividend has been credited in my account.
Can you please check and clarify?
Any help will be appreciated!!!
Regards,
Mangesh