HUL, Asian Paints, Tata Power, Dalmia Bharat Set June 23 Dividend Record Date

Eleven Indian companies, including Hindustan Unilever, Asian Paints, Tata Power and Dalmia Bharat, have fixed June 23, 2026 as the record date for their final dividends, with per-share payouts ranging from Rs 2.50 at Tata Power to Rs 23 at Asian Paints. Under the T+1 settlement cycle, the actual last day to buy with dividend eligibility was Monday, June 22; a purchase made today would settle after the record date has been sealed. The four blue chips lead the headlines, but seven smaller names turning ex-dividend on the same date trade at sharper dividend yields for income-focused portfolios.

What HUL, Asian Paints, Tata Power and Dalmia Bharat Will Pay

Hindustan Unilever (HUL) declared a final dividend of Rs 22 per share for the financial year ended March 31, 2026, the company said in a stock-exchange filing reviewed by HUL’s Rs 22 final dividend declaration. Asian Paints has recommended a final dividend of Rs 23 per equity share, the largest of the four blue-chip payouts in absolute rupee terms. Tata Power has set Rs 2.50 a share, equivalent to 250% on its Re 1 face value. Dalmia Bharat has recommended Rs 5 a share for its final dividend, per filings tabulated by the Economic Times.

HUL had already paid an interim dividend of Rs 19 per share in November 2025, taking its FY26 total to Rs 41 a share. Asian Paints declared an interim dividend of Rs 4.50 per share the same month, lifting its FY26 total to Rs 27.50 a share.

All four boards have aligned on the same record date, with the eligibility window effectively closing at Monday’s market close. Existing holders who hold the stock through settlement on the record date will receive the dividend once each AGM approves the resolution. The payouts remain recommendations until the shareholder vote ratifies them.

The per-share figures stack up as follows across the four blue chips.

The T+1 Twist: Why Yesterday Was the Real Last Day

Under the T+1 settlement cycle that governs Indian markets, a share purchase settles into the buyer’s demat account one trading day after the trade. The record date is the date on which a company finalises its list of eligible shareholders, not the date on which a buyer has to act. To make it onto that list, a buyer had to purchase the shares no later than Monday, June 22, so the trade would settle into the account by Tuesday’s record date. Existing shareholders who already hold the stock remain eligible regardless of when they bought.

Trades placed on June 23 itself will only settle on Wednesday, by which point the shareholder list has already been frozen. The 11-stock dividend alert for June 23 flagged the T+1 mechanic as the reason the trading day before the record date is the real cut-off. On the ex-dividend date, the stock typically opens lower by roughly the dividend amount, since new buyers no longer carry the right to the upcoming payout.

Seven Smaller Names on the Same Record Date

The day’s dividend list stretches well beyond the four marquee names. According to the Economic Times tabulation of BSE corporate actions, Thyrocare Technologies has set a final dividend of Rs 7 per share, Anand Rathi Share & Stock Brokers Rs 5, Indian Hotels Company (IHCL) Rs 3.25, GNA Axles Rs 3, Master Components Rs 0.75, Fredun Pharmaceuticals Rs 0.70 and DAR Credit & Capital Rs 0.50. Smaller by market cap than the four blue chips, these names bring the day’s total to 11 companies turning ex-dividend.

Several of these smaller names offer meaningfully richer dividend yields than the four blue chips. HUL trades at a dividend yield of around 1.96% on Trendlyne data, while Asian Paints sits at roughly 1.03%. Tata Power’s yield of 0.56% is the lowest of the four blue chips.

For income-focused investors looking past the marquee names, the same record date delivers seven additional entry points into Indian equities with payouts already approved by their respective boards. The dividend yield spread across the day’s 11 names is wider than the per-share payout spread, given the differences in share prices. Per-share dividend figures alone do not capture the full picture; each company’s fundamentals, payout history and TDS impact should be weighed before treating the announcement as a yield proxy. The remaining seven payouts range from Rs 0.50 at DAR Credit to Rs 7 at Thyrocare.

• 11 stocks turn ex-dividend on June 23, 2026
• 4 blue chips headline the day: HUL, Asian Paints, Tata Power, Dalmia Bharat
• 7 smaller names share the record date
• HUL dividend yield around 1.96% (Trendlyne)
• Tata Power payout ratio 250% on Re 1 face value

Earnings Behind the Payouts

The payouts follow a strong earnings season for the consumer-facing names. Asian Paints reported consolidated net profit of Rs 1,172 crore for the January-March quarter of FY26, up 69% from Rs 692 crore a year earlier, with revenue from operations rising 10.6% to Rs 9,247 crore. The dividend accompanied the results, as Asian Paints’ Q4 FY26 earnings round-up detailed at the time. The board’s recommendation of Rs 23 a share was tied to the same exchange filing that surfaced the strong results.

HUL recorded its highest quarterly volume growth in 15 quarters at 6%, with consolidated net profit at Rs 2,992 crore in Q4 FY26 against Rs 2,464 crore a year earlier. Revenue grew 7.6% year-on-year to Rs 16,351 crore.

The FMCG major’s dividend history now stretches across 55 payouts since March 2001, with the FY26 total of Rs 41 a share the highest combined annual payout the company has declared. Tata Power’s dividend recommendation sits alongside its broader push into renewables, transmission and EV charging infrastructure. The company issued a separate shareholder communication on May 26 setting out the tax deduction at source (TDS) process that will apply to the Rs 2.50 payout. Resident shareholders face 10% TDS where valid PAN details are available; higher rates apply for invalid PAN or non-compliance with PAN-Aadhaar linkage, as specified under the Income Tax Act, 2025.

Dalmia Bharat’s Rs 5 final dividend is the smallest of the four blue chips in absolute terms. The cement maker’s AGM date and final payment window have not been disclosed in the filings reviewed for this article. The dividend has been approved by Dalmia Bharat’s board and awaits only the shareholder vote to be ratified.

From Record Date to Bank Account

Three of the four blue chips have disclosed their AGM and payment calendar. HUL’s 93rd AGM is set for June 30, 2026, with the final dividend to be paid on or after July 3, 2026. Asian Paints’ 80th AGM is on July 9, 2026, with the dividend to follow on or after July 13. The Rs 23 per share final dividend was first flagged in Asian Paints’ Rs 23 final dividend and June 23 record date filing. Tata Power’s 107th AGM falls on July 7, 2026, with the payment scheduled for July 10.

The full schedule sits in HUL’s 93rd AGM FAQ page and Tata Power’s shareholder TDS communication. For all four companies, the payouts remain recommendations until each AGM ratifies them. Dalmia Bharat’s AGM and payment dates remain unconfirmed in the public filings reviewed.

The TDS process at Tata Power illustrates how the deductions will work across this batch. Non-resident shareholders can claim benefits under applicable Double Taxation Avoidance Agreements, subject to submission of prescribed documents including tax residency certificates. Indian residents with invalid PAN or no PAN-Aadhaar linkage face higher withholding rates. The deadline for shareholders to submit tax-related documents at Tata Power is June 22, 2026.

1. June 23, 2026: Record date for HUL, Asian Paints, Tata Power, Dalmia Bharat and seven other stocks
2. June 30, 2026: HUL’s 93rd AGM
3. July 7, 2026: Tata Power’s 107th AGM
4. July 9, 2026: Asian Paints’ 80th AGM
5. July 10, 2026: Tata Power’s dividend payment date
6. On or after July 3, 2026: HUL’s dividend payment window opens
7. On or after July 13, 2026: Asian Paints’ dividend payment window opens

Frequently Asked Questions

What is a dividend record date?

The record date is the date on which a company finalises its list of shareholders eligible to receive a declared dividend. Shareholders whose names appear on the company’s register on that date receive the payout, once approved at the annual general meeting.

Why is the last day to buy different from the record date?

Under the T+1 settlement cycle, a share purchase settles one trading day after the trade. To be on the shareholder register as of June 23, 2026, a buyer had to purchase the shares on or before June 22, 2026, so the trade would settle into the demat account by the record date.

Are these dividends approved?

All four blue-chip dividends remain recommendations from the respective boards. Final approval requires a shareholder vote at each company’s annual general meeting: HUL on June 30, Tata Power on July 7 and Asian Paints on July 9.

How will the dividends be taxed?

Dividend income is taxable in the hands of shareholders. Indian companies generally deduct tax at source at 10% for resident shareholders with valid PAN; higher rates apply for invalid PAN or non-compliance with PAN-Aadhaar linkage, as specified under the Income Tax Act, 2025.

When will shareholders receive the dividend money?

HUL’s payment window opens on or after July 3, 2026, Tata Power’s is set for July 10, and Asian Paints’ on or after July 13, subject to AGM approval. Dalmia Bharat’s payment date has not been disclosed in the filings reviewed for this article.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Dividend payments are subject to shareholder approval at the respective annual general meetings and to applicable tax deducted at source under Indian tax law. Figures are accurate as of publication and may change; readers should consult a SEBI-registered investment advisor before making investment decisions.