L&T Dividend Record Date and Payout History
Larsen & Toubro pays its shareholders essentially once a year. That concentrates an entire year’s cash entitlement into a single cut-off, which is why the L&T dividend record date attracts so much attention every summer: hold the share on that one day and the payment arrives; miss it and the next opportunity is roughly twelve months away. The date itself has also been drifting earlier—from early August in 2023 to late May in 2026—so anyone relying on last year’s calendar can be a month or more off. This page sets out the verified record dates, ex-dates and payout amounts, and explains the settlement mechanics that decide who actually receives the money. For the general definition and mechanics, see what a dividend record date is.
Research date: every date and amount below was checked on 22 August 2026 against the company’s exchange filings as reported at the time and against aggregated exchange corporate-action data. Nothing here is a forecast of the next dividend.
The 2026 record date: Friday, 22 May
Per the company’s exchange filing, the board recommended a final dividend of ₹38 per equity share (face value ₹2) for the year ended 31 March 2026 on 5 May 2026, alongside the Q4 results. The record date was fixed as Friday, 22 May 2026, and the filing stated that payment would follow shareholder approval at the ensuing Annual General Meeting, tentatively by 10 June 2026.
Because the dividend is recommended by the board but declared at the AGM, the sequence matters. The record date freezes the list of eligible holders weeks before any cash moves. A shareholder who sold in early June 2026 but was on the register on 22 May still received the ₹38; a buyer who picked up the stock on 23 May did not, even though the AGM had not yet happened.
The ₹38 figure is sometimes reported as a “1,900% dividend”. That percentage is computed on the ₹2 face value, not on the market price, and it says nothing about the return a buyer earns. At a market price in the thousands of rupees, the cash yield of a ₹38 payout sits near one percent. The face-value convention survives in exchange announcements because dividend rates are legally expressed that way; reading it as a return is the oldest confusion in dividend headlines.
Ex-date and record date now fall on the same day
Under the T+1 settlement cycle that Indian exchanges completed in January 2023, a share bought today is delivered into the buyer’s demat account the next trading day. That compressed timetable removed the old one-day gap between ex-date and record date: on NSE the two now generally fall on the same trading day.
L&T’s own corporate actions show the transition cleanly. In July 2021 the stock went ex-dividend on 28 July with a record date of 29 July; in July 2022 the ex-date was 21 July against a 22 July record date. From 2023 onwards the two dates coincide—2 August 2023, 20 June 2024, 3 June 2025 and 22 May 2026 were each simultaneously the ex-date and the record date.
The practical consequence is easy to misread. To be on the register on the record date, the shares must have settled by then, which means the purchase has to happen no later than the trading day before the record date. Buying on the record date itself settles one day too late and carries no entitlement. The ex-date label means exactly that: from that day, the price quotes without the dividend, and a fresh buyer is paying for a share whose current-year payout already belongs to someone else.
Verified payout history since 2020
The table below lists every distribution since March 2020, cross-checked across exchange-reported corporate actions. Amounts are per share on a face value of ₹2.
| Financial year | Type | Amount (₹) | Ex-date | Record date |
|---|---|---|---|---|
| FY2025-26 | Final | 38 | 22 May 2026 | 22 May 2026 |
| FY2024-25 | Final | 34 | 3 Jun 2025 | 3 Jun 2025 |
| FY2023-24 | Final | 28 | 20 Jun 2024 | 20 Jun 2024 |
| FY2022-23 | Final + special | 24 + 6 | 2 Aug 2023 | 2 Aug 2023 |
| FY2021-22 | Final | 22 | 21 Jul 2022 | 22 Jul 2022 |
| FY2020-21 | Final | 18 | 28 Jul 2021 | 29 Jul 2021 |
| FY2020-21 | Special | 18 | 4 Nov 2020 | 5 Nov 2020 |
| FY2019-20 | Final | 8 | 5 Aug 2020 | — |
| FY2019-20 | Interim | 10 | 24 Mar 2020 | 26 Mar 2020 |
A short verified table beats a long speculative one, so the record stops where clean cross-checked dates stop. NSE’s corporate-actions portal carries the issuer-reported purpose, ex-date and record date for each row and is the right place to confirm any entry before relying on it.
What the history actually shows
One final dividend a year is the norm. Six of the last seven financial years produced exactly one ordinary payout, recommended with the annual results and paid after the AGM. The March 2020 interim was an exception in a disrupted year.
Specials are real but rare—and they had identifiable causes. The ₹18 special of November 2020 followed the completed divestment of the Electrical & Automation business to Schneider Electric, announced by the company on 31 August 2020; the board distributed part of the sale proceeds rather than fold them into the ordinary dividend. The ₹6 special of August 2023 rode alongside the ₹24 final. Treating either as part of a recurring run-rate would overstate the ordinary payout: annualising FY2020-21’s total of ₹36 would have implied a payout the following year missed by ₹14.
The ordinary dividend has risen every year. The final dividend moved ₹18 → ₹22 → ₹24 → ₹28 → ₹34 → ₹38 across FY21–FY26, roughly a doubling in five years. That is a payout record, not a promise; each year’s amount is a fresh board decision that depends on profits, cash flow and the company’s capital-allocation choices between dividends, buybacks and reinvestment in the order book.
The calendar has moved earlier. The record date landed on 2 August in 2023, 20 June in 2024, 3 June in 2025 and 22 May in 2026, tracking earlier results announcements and AGMs. There is no rule fixing next year’s date; it becomes knowable only when the board’s recommendation and record-date filing hit the exchanges, typically in May with the Q4 results. Gale’s dividend record-date calendar—a live calendar of upcoming NSE record dates, updated daily from NSE’s published corporate-action feed—shows the announcement the day the filing lands.
Tax on the payout
For an Indian resident individual, dividend income is generally taxed at the applicable slab rate, and the company deducts TDS on dividend payments above the statutory threshold, which the recipient later adjusts against the final tax liability. The exact threshold and rates change with Finance Acts, so the current year’s rules deserve a fresh check rather than an assumption carried over from an old article. The net cash received in June is therefore smaller than the headline per-share figure for most taxpayers above the basic exemption.
The record date also matters for tax timing: the income belongs to whoever is on the register on that date, regardless of when the AGM approves it or when the bank credit arrives.
Where this fits in the wider L&T picture
A one-percent-area cash yield makes L&T an unusual entry in dividend screens—the payout is steady and rising, but the investment case has always rested on the engineering and construction business, its record order book and execution, not on income. Gale’s separate research on Larsen & Toubro’s business and valuation covers that side; its scenarios are not a projection of future dividends. For how L&T-style low-yield compounders compare with the high-yield end of the market, the data-led guide to high-paying dividend stocks in India walks through the screening and safety checks.
FAQ
What was the L&T dividend record date in 2026?
Friday, 22 May 2026, per the company’s exchange filing of 5 May 2026, for a final dividend of ₹38 per share for FY2025-26. Under T+1 settlement the ex-date fell on the same day.
What was the last date to buy L&T shares and receive the FY26 dividend?
The trading day before the record date—21 May 2026—because a purchase must settle into the buyer’s demat account by the record date. A purchase on 22 May itself settled a day too late and carried no entitlement.
Does L&T pay an interim dividend?
Rarely. In the period covered here it paid one interim (₹10 in March 2020) and two specials (₹18 in November 2020 and ₹6 in August 2023). Every other distribution since 2019 has been a single final dividend paid after the AGM.
When is the next L&T dividend record date?
It has not been announced as of 22 August 2026. Based purely on the recent pattern, the board has recommended the final dividend with Q4 results in May and fixed a record date two to three weeks later—but the actual date exists only once the company files it with the exchanges.
How much dividend does L&T pay per share?
₹38 for FY2025-26, up from ₹34 for FY2024-25 and ₹28 for FY2023-24. Each year’s figure is a new board decision; the history is a record, not a guarantee.
Sources and data notes
- Company exchange filing of 5 May 2026 (board recommendation of the ₹38 final dividend, the 22 May 2026 record date and the tentative payment timeline), as reported by Upstox.
- Historical ex-dates, record dates and amounts cross-checked between Trendlyne’s L&T dividend history and StockAnalysis, both aggregating exchange-reported corporate actions.
- NSE corporate actions for issuer-reported purpose, ex-dates and record dates.
- Company announcement of 31 August 2020 on completing the divestment of the Electrical & Automation business to Schneider Electric, which preceded the November 2020 special dividend.
Record dates, amounts and tax rules can change with each board decision and Finance Act. Before acting on any row, confirm the latest filing on the exchanges and the current tax position.
This article is for research and education, not personalised investment advice or a recommendation to buy, sell or hold any security. Gale is not a SEBI-registered investment adviser. Dividends are declared at the board’s and shareholders’ discretion and can change or stop; verify current filings and consider a qualified professional before acting.