Corporate Update: Sonata Software, Supreme Industries Ltd and ICICI Lombard stocks trade mute on ex-dividend date

Sonata Software, Supreme Industries Ltd and ICICI Lombard General Insurance Company Ltd have announced dividends of Rs 8, Rs 6 and Rs 4 respectively for their shareholders, the ex-date of which is October 29. The record date of these corporate developments is November 1, showed BSE filing of the respective companies.  

Ahead of the record date and on ex-date of interim dividend, shares of Sonata Software traded negative in the afternoon trade as the stocks were trading at Rs 832.70, down Rs 12.60 or 1.49% per share on BSE in Friday's trade.  

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Supreme Industries Ltd shares were marginally up by 1 per cent on BSE. Supreme Industries stocks gained Rs 21 to trade at Rs 2287 around 1:45 pm. ICICI Lombard stocks gained Rs 14.25 to Rs 1485.50 n BSE Friday's trade around the same time.  

Today is also record date for Asian Paint interim dividend, Bharat Gears rights issue and IRCTC (Indian Railways Catering and Tourism Corporation) share split.  

Asian Paints management has announced an interim dividend of Rs 3.65 per share for shareholders. Bharat Gears Limited board on October 21 has approved a rights issue worth Rs 9.77cr. The shareholders will be awarded one bonus share for very 10 shares held by them, the record date for the same is today, October 29.  

Besides, Indian Railway Catering and Tourism Corporation has fixed 29 October 2021 as the record date for the proposed share split. IRCTC's board in August 2021 recommended the proposal for sub-division of one equity share of face value of Rs 10 each into five equity shares of face value of Rs 2 each (5-for-1).
Meanwhile, in another big development related to IRCTC, the Ministry of Railways has rolled back decision to charge 50% of revenue of the Indian Railway Catering & Tourism Corporation (IRCTC) that the railways ticketing arm earns from convenience fee.  

Ex-date Vs record date
An ex-dividend date is the day from when a stock stop carrying the value of following dividend payment. Generally, the ex-dividend date is set two business days before the record date.  
Record date is a day on which a company determines which shareholders are eligible to receive the announced dividend payment.  As per Motilal Oswal, this is the date when dividend is paid to all shareholders whose names appear in the shareholder records of the company at the end of the record date.