Full Details Of Dividend Adjustment Of TORNTPOWER for Dec 2023

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

TORNTPOWER Limited announces the Interim Dividend of ₹ 22 per share (including ₹ 13 per equity share as a special dividend) on February 14, 2023. This translates to a yield of 4.81% based on the closing price of ₹ 457.4 on February 13, 2023. The ex-dividend date is set for February 22, 2023, with the record date for dividend payment scheduled for February 22, 2023.

dividend adjustment of torntpower for dec 2023
Dividend Adjustment of TORNTPOWER 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, TORNTPOWER will adjust its dividends in both the futures/options and cash markets.

Dividend Adjustment of TORNTPOWER for Dec 2023 in the Cash

Investors who buy TORNTPOWER shares on or prior to February 21, 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 TORNTPOWER for Dec 2023 the Futures

TORNTPOWER’s futures contracts will be adjusted in the future market by subtracting the dividend amount from the February 21, 2023 closing price. For instance, if TORNTPOWER closes at ₹ 522 on February 21, 2023, one futures contract would be worth ₹ 522 x 1500 = ₹ 7,83,000. The next day, February 22, 2023, the value of the same contract would be adjusted to ₹ 500 x 1500 = ₹ 7,50,000. The difference between these two values will be transferred from the futures seller’s account to the futures buyer’s account.

Dividend Adjustment of TORNTPOWER 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. (Although from April 28, 2023, Torrent Power will be removed from F&O Segment.) This can be understood through the table given below:

Dividend Adjustment of Torntpower for Dec 2023

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