I have purchased shares on 22.06.2010 at Rs. 88/-. Will I get dividend if I sold today? The Book closure / record date is from 01.07.2010 to 07.07.2010.
Shall I hold the shares or sold? Please reply immediately.
CA. SUJAL MEHTA (Service) (3316 Points)
02 August 2010
I have purchased shares on 22.06.2010 at Rs. 88/-. Will I get dividend if I sold today? The Book closure / record date is from 01.07.2010 to 07.07.2010.
Shall I hold the shares or sold? Please reply immediately.
CA. SUJAL MEHTA
(Service)
(3316 Points)
Replied 02 August 2010
Dear Friends,
I am talking about shares of ELECON ENGINEERING CO.LTD.
ars
(CS)
(445 Points)
Replied 02 August 2010
Dear Sujal,
The stock exchange settlement is on T+2 days. i.e. if a transaction is taken place today on 2nd aug. then the settlement of that will be on the 2nd working day thereof.- i.e. on 4th.
The book closure opening dt. is the date when books will get closed (1st aug) hence, practically the last working day before that -i.e. settlement of 30th july, in ur case, will be considered as the last dt. for the preparation of dividend control by the co.
since u have purchased atleast two working day before that and hv not sold till that, in my opinion u should get dividend.
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