MSTC stock set to trade ex-dividend on Tuesday

MSTC Ltd (MSTCLTD) shares are scheduled to trade ex-dividend on Tuesday, September 10. On Monday, the stock ended 0.9 per cent lower at Rs 745.8 apiece on BSE.

Earlier, the company announced a final dividend of Rs 5 per equity share for FY24.  

What happens when a stock trades ex-dividend?

When a stock trades ex-dividend, it means the stock is priced without including the upcoming dividend. Simply put, the price of the stock is adjusted by excluding the dividend being paid to eligible holders. New buyers on or after the ex-dividend date are not eligible for the dividend.

Why does the ex-date matter? 

The ex-dividend date, which is usually one day before the record date, determines if a buyer will receive the dividend.

Investors must purchase the stock before the ex-dividend date to qualify for the dividend.

How market fared on Monday

Meanwhile, domestic equity benchmarks eked out gains to the tune of around half a per cent on Monday following three straight sessions of losses, with the Sensex rising 375.6 points to end at 81,559.5 and the Nifty50 gaining 84.3 points to 24,936.4.

While buying interest in financial services and FMCG shares aided the upmove in the main indices, selling pressure in spaces like IT and energy limited the upside. Read more on the September 9 session on Dalal Street | Stocks to track for next session

ALSO READ: Corporate Action | From dividend to bonus to split to buyback, stocks to trade ex-date this week

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