Full Details Of Dividend Adjustment Of ONGC for Dec 2023

Find out all the information about the Dividend Adjustment of ONGC for Dec 2023, including the ex-dividend date, record date, cash and F&O adjustments, and more. Discover how Oil & Natural Gas Corporation Limited will adjust its dividends according to SEBI regulations.

ONGC Limited announced the Second Interim Dividend of ₹ 4 per share on February 16, 2023. This translates to a yield of 2.71% based on the closing price of ₹ 147.5 on February 15, 2023. The ex-dividend date is set for February 24, 2023, with the record date for dividend payment scheduled for February 24, 2023.

Dividend Adjustment Of ONGC for Dec 2023

SEBI’s Guidelines for Dividend Adjustment in F&O

As per SEBI regulations, companies declaring dividends higher than 2% of the preceding day’s closing price must adjust the dividends in futures and options markets. In compliance with these rules, ONGC will adjust its dividends in both the futures/options markets and the cash market.

Dividend Adjustment of ONGC for Dec 2023 in the Cash

Investors who buy ONGC shares on or prior to February 23, 2023, will receive the cash dividends directly to their bank accounts, as this is the last cum-dividend date for the stock in the cash market.

Dividend Adjustment of ONGC for Dec 2023 the Futures

In the futures market, ONGC’s futures contracts will be adjusted by subtracting the dividend amount from the February 23, 2023 closing price. For instance, if ONGC closes at ₹ 154 on February 23, 2023, one futures contract would be worth ₹ 154 x 3850 = ₹ 5,92,900. The next day, February 24, 2023, the value of the same contract would be adjusted to ₹ 150 x 3850 = ₹ 5,77,500. The difference between these two values will be transferred from the futures seller’s account to the futures buyer’s account.

Dividend Adjustment of ONGC for Dec 2023 in the Options

In the options market, the dividends will be subtracted from the call and put option strike prices for ongoing monthly contracts i.e. March 29, 2023, and those expiring on, April 27, 2023, and June 29, 2023. This can be understood through the table given below:

Dividend Adjustment Of ONGC for Dec 2023

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