As many as 44 stocks including Infosys, Adani Enterprises, Adani Ports, Canara Bank, PNB and several others will turn ex-date for various corporate actions, including dividends, bonus issues, stock splits and rights issues this upcoming week between June 8 and June 12.

Investors must hold shares of these companies in their demat accounts on the record date to be eligible for the respective corporate actions. The list remains tentative, as more companies may announce record dates for dividends, bonus issues and stock splits during the week.

Here is a day-wise list of corporate actions to watch out for this week:

June 8 (Monday)

The week kicks off with three companies undergoing corporate adjustments: Unified Data-Tech Solutions shares will turn ex-date for an interim dividend of Rs 5.5 per share. Ravindra Energy and Consecutive Commodities meanwhile will trade ex-date for rights issue of equity shares.

June 9 (Tuesday)
Inox India shares will trade ex-date for a final dividend of Rs 2 per share. Tata Group company Nelco meanwhile had also fixed June 9 as the record date for its final dividend of Rs 1 per share.

June 10 (Wednesday)
Several major companies turn ex-dividend, alongside a bonus issue on June 10. India’s IT bellwether Infosys will turn ex-date for its final dividend of Rs 25 per share. Indian Bank and Seshasayee Paper & Board will also trade ex-record date for their respective dividends of Rs 18.25 per share and Rs 2 per share.

Tata Group has fixed Wednesday as the record date to determine the eligibility of shareholders for dividend payments by three of its companies. These include Tata Chemicals (Rs 11 per share), Tata Investment Corporation (Rs 3.4 per share) and Tata Elxsi (Rs 75 per share).

Gautam Exim shares meanwhile will go ex-bonus for its 3:1 bonus issue (three new bonus shares for every one existing share held).

June 11 (Thursday)
Specialized chemical player Sunshield Chemicals will be the lone counter turning ex-date on Thursday for a final dividend of Rs 3 per share.

June 12 (Friday)
Friday will see 31 stocks tuning ex-record date for their respective corporate actions. These includes five Adani Group companies, namely ACC (final dividend of Rs 7.5 per share), Adani Enterprises (final dividend of Rs 1.3 per share), Adani Ports and Special Economic Zone (final dividend of Rs 7.5 per share), Adani Total Gas (final dividend of Rs 0.25 per share) and Ambuja Cements (final dividend of Rs 2 per share).

Four Tata Group companies also have June 12 as the record date for their dividends. These include Tata Motors (final dividend of Rs 4 per share), Tata Steel (final dividend of Rs 4 per share), Trent (final dividend of Rs 6 per share) and Voltas (final dividend of Rs 4 per share).

Other stocks which will turn ex-record dates for their respective dividends include Canara Bank (Rs 4.2 per share), JM Financial (Rs 1.75 per share.), ICICI Prudential AMC (Rs 12.4 per share), PNB (Rs 3 per share), Piramal Finance (Rs 11 per share), Apcotex Industries (Rs 5.5 per share), Avantel (Rs 0.2 per share), Cemindia Projects (Rs 3 per share), Eimco Elecon (Rs 4 per share), Elecon Engineering Company (Rs 1.5 per share), High Energy Batteries (Rs 3 per share), Lloyds Metals & Energy (Rs 1 per share), MM Forgings (Rs 4 per share), Navin Fluorine (Rs 8.6 per share), Orient Cement (Rs 0.5 per share), Oseaspre Consultants (Rs 87 per share), Panchsheel Organics (Rs 0.8 per share), Petronet LNG (Rs 3 per share), Reliance Industrial Infrastructure (Rs 3.5 per share) and Technojet Consultants (Rs 87 per share).

Mobavenue AI Tech shares will trade ex-split as it sub-divides its equity shares from a face value of Rs 10 down to Rs 2 per share. City Union Bank shares meanwhile will trade ex-bonus for a 1:3 bonus issue (one new bonus share for every three shares held)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

To protect minority shareholders and curb tax arbitrage by promoters, Finance Minister Nirmala Sitharaman on Sunday announced a major overhaul of the taxation framework governing share buybacks.

Presenting the Union Budget 2026-27, Sitharaman said that buybacks will be taxed as capital gains for all categories of shareholders.

“In the interest of minority shareholders, I propose to tax buyback for all types of shareholders as Capital Gains,” she said.

To discourage misuse of tax arbitrage, promoters will be subject to an additional buyback tax, raising the effective tax rate to 22 per cent for corporate promoters and 30 per cent for non-corporate promoters, she stated.

Sitharaman said, “Change in taxation of buyback was brought in to address the improper use of buyback route by promoters”.

The Income Tax Department on X said, “The buyback taxation has been simplified with benefits to small shareholders”.

Under the proposal, shareholders other than promoters will pay tax on such gains at the applicable capital gains tax rate. That is 12.5 per cent for long term capital gains, listed and unlisted and 20 per cent on short term listed, and applicable rate on short term unlisted. However, to prevent promoters from misusing the buyback, they have to pay additional income tax. Where a domestic company is a promoter, they will pay effective tax of 22 per cent on gains on buyback and where promoter is other than a domestic company, they will pay effective tax of 30 per cent on gains on buyback.

“For promoters, the tax liability will largely remain similar if it is taxed as dividend in their hands,” the Income-Tax department stated on X.

Market experts believe that the proposal to tax buyback proceeds as capital gains for all shareholders, ensures that tax applies only to the real gain. Further, the higher tax burden on promoters may lead companies to reassess their capital allocation strategies between dividends and buybacks.

This move aligns buybacks with normal share sales for minority and retail interests while safeguarding revenue, the expert said.

Roop Bhootra, Whole-time Director, Anand Rathi Share and Stock Brokers, said the proposed move is a positive for individual shareholders as tax liability reduces from 30 per cent (highest slab rate) to capital gains rates (short term 20 per cent and long-term 12.5 per cent) and negative for corporates and discourages buyback and pushes corporates to use reserves for capital expenditure and/or R&D.

Addressing a post-budget conference, Revenue Secretary Arvind Shrivastava also said that it was a “relief” for shareholders.

“It’s not a tax, additional tax, it is a relief. The buyback tax system was changed to make it a dividend income, which is income at the applicable income tax rate at the hand of the shareholder.”

“The whole objective of doing that change at that time was a misuse of a tax arbitrage by promoters. So the change made for promoters is that an additional buyback tax on them, which again keeps things status quo for them. So even today, the marginal rate at which they would have been charged,” he added.

Earlier, share buybacks were taxed mainly at the company level, with shareholders facing uneven or unclear outcomes. After the 2024 change, buyback proceeds are taxed in the hands of shareholders, often at applicable slab rates, on the entire receipt without allowing deduction for the cost of acquisition, market experts said.

“The amendment in buyback taxation to treat it as capital gains as earlier is positive for retail and non-promoter shareholders. Even for promoter shareholders, it enables offsetting the cost against the buyback proceeds and the additional income tax is payable on the capital gains,” Vaibhav Gupta, Partner, Dhruva Advisors, said.

Parizad Sirwalla, Partner and Head, Global Mobility Services- Tax, KPMG in India, said that revamp of buyback tax framework will influence investor behaviour and short-term sentiments.

In market parlance, buyback tax is a kind of tax levied on companies that buyback their own shares from shareholders. Generally, governments impose this tax to restrain firms from distributing profits to shareholders through share buybacks rather than paying dividends. PTI