If you are an income investor looking to grab dividends before the cutoff, this week (May 25–29, 2026) is packed with action. Some of India’s most well-known blue-chip companies — including TCS, Bajaj Auto, GSK Pharma, Tata Consumer Products, ICICI Lombard, Bank of India, and LTIMindtree — are going ex-dividend. Missing the ex-date means missing the payout, so read on for everything you need to know.
What Is an Ex-Dividend Date and Why Does It Matter?
Before diving into the list, a quick refresher. The ex-dividend date is the cut-off date set by a company. To be eligible for the declared dividend, you must hold the shares before the ex-date. If you buy on or after the ex-date, you will NOT receive the dividend for that cycle.
Example: TCS ex-date is May 25, 2026. You must own TCS shares by May 23, 2026 (T+2 settlement) to qualify for the ₹31/share dividend.
This makes ex-dividend tracking one of the most time-sensitive activities for dividend investors in India.
Full List: Upcoming Ex-Dividend Stocks (May 25–29, 2026)
| Company | Ex-Date | Dividend (₹/share) | Type |
|---|---|---|---|
| LTIMindtree (LTM) | 25 May 2026 | ₹53.00 | Final |
| Tata Consultancy Services (TCS) | 25 May 2026 | ₹31.00 | Final |
| Tata Consumer Products | 25 May 2026 | ₹10.00 | Final |
| Siyaram Silk Mills | 25 May 2026 | ₹4.00 | Special |
| Hatsun Agro Product | 26 May 2026 | ₹10.00 | Interim |
| Dhampur Sugar Mills | 26 May 2026 | ₹2.00 | Interim |
| IRB Infrastructure Developers | 26 May 2026 | ₹0.05 | Interim 4 |
| Bajaj Auto | 29 May 2026 | ₹150.00 | Final |
| Bank of India | 29 May 2026 | ₹4.65 | Final |
| GSK Pharma | 29 May 2026 | ₹57.00 | Final |
| Caplin Point Laboratories | 29 May 2026 | ₹4.00 | Interim |
| ICICI Lombard General Insurance | 29 May 2026 | ₹7.00 | Final |
| UNO Minda | 29 May 2026 | ₹1.75 | Final |
| BCPL Railway Infrastructure | 29 May 2026 | ₹1.00 | Final |
| Eris Lifesciences | 29 May 2026 | ₹7.21 | Interim |
Deep Dive: Key Stocks and Their Financial Performance
1. Tata Consultancy Services (TCS) — ₹31 Final Dividend | Ex-Date: May 25
TCS remains the crown jewel of Indian IT. The company has declared a final dividend of ₹31 per share for FY25, continuing its reputation as one of the most consistent large-cap dividend payers on Dalal Street.
Why TCS Matters for Dividend Investors:
- TCS has paid uninterrupted dividends for over two decades
- The company is virtually debt-free, making dividend sustainability extremely high
- Its global client base spans BFSI, retail, healthcare, and manufacturing
FY25 Financial Highlights:
- Revenue: ₹2,55,324 crore (up ~6% YoY)
- Net Profit: ₹48,553 crore (up ~9% YoY)
- Operating Margin: Consistently in the 24–25% band
Analyst View: With AI and cloud transformation contracts continuing to grow globally, TCS is well-positioned to maintain — and potentially increase — dividend payouts in FY26.
2. Bajaj Auto — ₹150 Final Dividend | Ex-Date: May 29
Bajaj Auto’s ₹150/share final dividend is the biggest absolute payout on this week’s ex-dividend list, making it a focal point for income-focused portfolios. Bajaj Auto is India’s dominant two-and-three-wheeler exporter, with strong pricing power in both domestic premium segments and international markets.
Why Bajaj Auto is a Dividend Favourite:
- One of India’s most shareholder-friendly auto companies
- Healthy cash reserves with minimal capex requirements
- Strong export contribution (Africa, ASEAN, Latin America)
FY25 Financial Highlights:
- Revenue: ₹52,732 crore (up ~12% YoY)
- Net Profit: ₹8,090 crore (up ~14% YoY)
- Operating margins improved, supported by premium motorcycle growth (Pulsar, Dominar, Triumph)
Key Trigger to Watch: EV transition — Bajaj’s Chetak electric scooter and upcoming electric motorcycle launches could reshape long-term earnings trajectory.
3. GSK Pharma — ₹57 Final Dividend | Ex-Date: May 29
GlaxoSmithKline Pharmaceuticals India declared a final dividend of ₹57 per share — one of the highest dividend yields in the pharma sector for this cycle. GSK Pharma operates across prescription medicines, vaccines, and OTC healthcare in India.
Why GSK Pharma Stands Out:
- Asset-light business model with high ROE
- Parent company (GSK Plc, UK) provides technology and brand leverage
- Strong vaccine portfolio with limited competition in key segments
FY25 Financial Highlights:
- Revenue: ₹3,766 crore (up ~10% YoY)
- Net Profit: ₹927 crore (up ~93% YoY — a massive jump)
- The profit surge was driven by margin expansion and lower exceptional items
Dividend Yield Context: At a ₹57 dividend against a CMP hovering around ₹1,600–1,700, the dividend yield is approximately 3.3–3.5%, which is attractive for a pharma large-cap.
4. Tata Consumer Products — ₹10 Final Dividend | Ex-Date: May 25
Tata Consumer Products (TCP) has declared a ₹10/share final dividend, ex-date May 25. The company is one of the fastest-growing FMCG names in India, with a diversified portfolio spanning Tata Tea, Tata Salt, Tata Sampann, Starbucks (JV), and international brands.
Why TCP is a Long-Term Dividend Growth Story:
- India’s FMCG sector is in a structural multi-decade growth phase
- TCP is aggressively expanding into packaged foods and health nutrition
- The Tata group brand provides unmatched consumer trust
FY25 Financial Highlights:
- Revenue: ₹17,618 crore (up ~16% YoY)
- Net Profit: ₹1,301 crore (up ~6% YoY)
- India beverages and foods segments both delivered steady volume growth
5. LTIMindtree (LTM) — ₹53 Final Dividend | Ex-Date: May 25
LTIMindtree, formed by the merger of L&T Infotech and Mindtree, is a leading mid-to-large cap IT services company. Its ₹53/share final dividend is a generous return for long-term holders.
FY25 Financial Highlights:
- Revenue: ₹38,008 crore (up ~7% YoY)
- Net Profit: ₹4,602 crore (up ~5% YoY)
- Key verticals: BFSI, manufacturing, technology, media, and retail
LTIMindtree is investing in AI-driven modernisation services, which could provide a meaningful earnings tailwind in FY26 and beyond.
6. ICICI Lombard General Insurance — ₹7 Final Dividend | Ex-Date: May 29
ICICI Lombard is India’s largest private non-life insurer by market share. Its ₹7/share final dividend reflects the company’s strong profitability cycle.
FY25 Financial Highlights:
- Total Income: ₹24,916 crore (up ~13% YoY)
- Net Profit: ₹2,508 crore (up ~31% YoY)
- Growth driven by health, motor, and commercial insurance segments
With India’s insurance penetration still among the lowest in Asia, ICICI Lombard remains a compelling long-term compounder with growing dividend capacity.
7. Bank of India — ₹4.65 Final Dividend | Ex-Date: May 29
Bank of India, a major public sector lender, declared a ₹4.65/share final dividend after a stellar FY25.
FY25 Financial Highlights:
- Total Income: ₹77,330 crore (up ~16% YoY)
- Net Profit: ₹9,219 crore (up ~45% YoY)
- Asset quality improved significantly with lower gross NPA ratios
PSU banks have re-emerged as dividend payers after years of provisioning drag — Bank of India’s payout reflects the sector’s broad recovery.
8. BCPL Railway Infrastructure — ₹1 Final Dividend | Ex-Date: May 29
A smaller name on the list but worth noting for railway sector investors. BCPL Railway Infrastructure is engaged in electrification, signalling, and EPC projects.
FY25 Financial Highlights:
- Revenue: ₹284 crore (up ~31% YoY)
- Net Profit: ₹15 crore (up ~43% YoY)
With India’s ₹2.5 lakh crore railway capex budget for FY26, companies like BCPL are well-positioned for sustained order book growth.
Sector-wise Summary: Who’s Paying Dividends This Week?
| Sector | Companies |
|---|---|
| IT / Technology | TCS, LTIMindtree |
| Automobiles | Bajaj Auto, UNO Minda |
| FMCG | Tata Consumer Products, Hatsun Agro |
| Pharma | GSK Pharma, Caplin Point, Eris Lifesciences |
| Banking & Finance | Bank of India, ICICI Lombard |
| Infrastructure | IRB Infrastructure, BCPL Railway |
| Textiles | Siyaram Silk Mills |
| Sugar | Dhampur Sugar Mills |
How to Use This Dividend Calendar Effectively
Step 1 — Check the record date: Most brokers settle trades in T+1 now, but always verify on NSE/BSE.
Step 2 — Don’t buy just for the dividend: After the ex-date, the stock price typically drops by approximately the dividend amount. This is called the dividend adjustment.
Step 3 — Focus on dividend yield + growth: A company paying ₹150/share like Bajaj Auto is meaningful only relative to its share price. Always calculate the yield.
Step 4 — Watch for tax implications: Dividends are taxed at your slab rate in India (post FY21 DDT removal). Factor this into your net income calculation.
Step 5 — Build a dividend portfolio systematically: Single high-dividend stocks carry concentration risk. Spread across IT, FMCG, pharma, and financials for consistent income flow year-round.
Bottom Line
This week’s ex-dividend calendar is one of the busiest of the quarter. Bajaj Auto’s ₹150 payout, GSK Pharma’s ₹57, LTIMindtree’s ₹53, and TCS’s ₹31 make this a significant week for income investors. The broader theme is clear: India’s corporate sector is in a healthy profit cycle, and dividend payouts are reflecting that strength across IT, auto, FMCG, banking, and pharma.
Mark your calendars, check your demat holdings, and act before the ex-dates pass.
Disclaimer: This article is for educational and informational purposes only. It does not constitute investment advice or a recommendation to buy or sell any security. Please consult a SEBI-registered investment advisor before making investment decisions. Past dividend history is not a guarantee of future payouts.
Published on StockAnalysisDaily.in — Your Daily Edge in the Indian Stock Market.