Mazagon Dock Dividend Record Date and Payout History
Anyone who bought Mazagon Dock Shipbuilders Limited on Thursday, 20 August 2026 paid the full price and still missed the ₹4.62 final dividend. The record date fell that very day, and under T+1 settlement a record-date purchase reaches the demat account one day too late to enter the register. That near-miss is why the Mazagon Dock dividend record date attracts so much attention: the defence shipyard now distributes cash two or three times a year, a 1:2 stock split reset every per-share amount in December 2024, and eligibility turns on a single trading day. This guide maps the payout cadence, the verified record-date history, and how settlement decides who gets paid.
Research date: Record dates, amounts and payment timelines below were cross-checked on 22 August 2026 against Mazagon Dock’s exchange-reported announcements, as republished in the records listed under Sources. Future dividends are board and shareholder decisions; nothing here predicts the next one.
The cadence: one certain interim, one variable, one final
Mazagon Dock’s dividend calendar has three slots, and they behave differently.
| Dividend slot | When it is decided | Typical record-date timing | Recent pattern |
|---|---|---|---|
| First interim | Board meeting with the half-year results, late October | Late October–November | Every year, FY2023–FY2026 |
| Second interim | A later board meeting — February in FY2026, April in FY2025 | Mid-February or mid-April | Only FY2025 and FY2026 |
| Final | Recommended with the May annual results, approved at the AGM | About a week before the August–September AGM | Every financial year since the October 2020 listing |
The half-year-results interim is the dependable slot, with record dates falling anywhere from late October to late November. Per the company’s exchange announcements, the FY2026 first interim of ₹6 was approved at a board meeting on 27 October 2025 with a record date of Tuesday, 4 November 2025 — the same shape as the ₹23.19 interim (30 October 2024) and the ₹15.34 interim (20 November 2023) before it.
The second interim varies in both timing and existence. In FY2026 it arrived with the third-quarter results: ₹7.50 per share approved on 5 February 2026, record date Friday, 13 February 2026, per the filing. In FY2025 it came much later — ₹3 per share with a record date of Wednesday, 16 April 2025, as reported by Business Standard. FY2023 and FY2024 had none.
The final works on a longer fuse because shareholders, not the board alone, approve it. The FY2025 final of ₹2.71 had its record date on Friday, 19 September 2025, one week before the 26 September AGM. The FY2026 final of ₹4.62 repeats the shape: record date 20 August 2026, one week before the 27 August AGM, payment on or before 26 September once approved. As of this article’s research date the register has already been read, but the cash moves only after the AGM vote.
Verified record dates: FY2023 to FY2026
Every row was checked against Mazagon Dock’s exchange-reported corporate actions as republished in the records listed under Sources; the face-value column matters because of the December 2024 split, covered in the next section.
| Financial year | Dividend type | Amount per share | Face value | Record date | Payment |
|---|---|---|---|---|---|
| FY2023 | Interim | ₹9.10 | ₹10 | 22 Nov 2022 | — |
| FY2023 | Final | ₹6.86 | ₹10 | 20 Sep 2023* | — |
| FY2024 | Interim | ₹15.34 | ₹10 | 20 Nov 2023 | — |
| FY2024 | Final | ₹12.11 | ₹10 | 19 Sep 2024* | — |
| FY2025 | First interim | ₹23.19 | ₹10 | 30 Oct 2024 | — |
| FY2025 | Second interim | ₹3.00 | ₹5 | 16 Apr 2025 | — |
| FY2025 | Final | ₹2.71 | ₹5 | 19 Sep 2025 | After the 26 Sep 2025 AGM |
| FY2026 | First interim | ₹6.00 | ₹5 | 4 Nov 2025 | On or before 26 Nov 2025 |
| FY2026 | Second interim | ₹7.50 | ₹5 | 13 Feb 2026 | On or before 7 Mar 2026 |
| FY2026 | Final | ₹4.62 | ₹5 | 20 Aug 2026 | On or before 26 Sep 2026, subject to AGM approval |
*For the FY2023 and FY2024 finals, the record republished by Trendlyne confirms the ex-dates shown; under T+1 the record date normally coincides.
One caveat: the ₹3 dividend with the April 2025 record date was filed as the second interim for FY2024-25, but because it was paid after 1 April some aggregators book it into FY2025-26 — which is why totals differ across websites. This guide follows the company’s labels.
The 1:2 split: why ₹23.19 became ₹6 without a cut
Read carelessly, the table suggests a collapse — ₹23.19 per share in October 2024, then ₹6 a year later. What actually happened in between was Mazagon Dock’s first-ever stock split: each ₹10 share became two ₹5 shares, with a record date of 27 December 2024, as reported by Business Standard. Every dividend from April 2025 onwards is paid on twice as many shares, so per-share amounts halved mechanically.
Put the years on a common post-split footing and the direction reverses. FY2023’s ₹15.96 total becomes ₹7.98 per current share; FY2024’s ₹27.45 becomes about ₹13.73; FY2025’s three payouts work out to roughly ₹17.30; and FY2026’s ₹18.12 needs no adjustment. The adjusted payout has risen every year in this window — the arithmetic is ours, every input amount is as filed. Any calculation that mixes pre-split and post-split amounts will be off by a factor of two.
Ex-date and record date under T+1: same day since 2023
The record date is the day the company reads its register of shareholders; the ex-date is the first trading day a buyer no longer acquires the entitlement. Gale’s explainer on what a dividend record date is covers the mechanics; record date versus ex-dividend date walks through the settlement arithmetic.
Since Indian equities completed the move to T+1 settlement in January 2023, a purchase settles into the demat account the next working day, so the ex-date and the record date generally fall on the same day. Mazagon Dock’s own history shows the regime change: the FY2023 interim, declared under the old settlement cycle, went ex on 21 November 2022 with the record date a day later on 22 November. Every record date since October 2024 fell on a trading day and doubled as the ex-date. The practical cut-off is therefore one trading day earlier: for the FY2026 final, Wednesday, 19 August 2026 was the last day a buyer qualified.
The government shareholder behind the payout policy
Mazagon Dock is a Navratna defence public-sector undertaking, majority-owned by the Government of India, building submarines and warships for the Indian Navy at its Mumbai yard. That ownership shapes the record in two ways. First, the government receives the bulk of every distribution, and finance-ministry guidelines for central public-sector enterprises prescribe minimum annual payouts linked to profit and net worth, which is why a profitable defence PSU pays regularly. Second, the final follows the AGM calendar, which is why its record date lands in August–September rather than the May–June slot common among private companies.
Whether the payouts are well supported is a separate question from when they are paid. The order book, execution record and valuation behind the distributions are discussed in Gale’s Mazagon Dock research page, which covers the business rather than corporate-action mechanics.
What the record date does to the price and the cash
On the ex-date the share price typically opens lower by roughly the dividend amount, all else equal, because the entitlement has left the stock. Buying on the last eligible day is not free income: the price gives back approximately what the dividend pays, before tax and costs.
The cash follows the announced timeline in the table above — within about three weeks of the record date for the recent interims, and after the AGM for finals. For an Indian resident individual, dividend income is taxable at the applicable slab, and the company deducts TDS above the statutory threshold before crediting, subject to current law and the shareholder’s tax status.
How to track the next record date
- Gale’s dividend record-date calendar — gale.in’s live calendar of upcoming NSE record dates, updated daily from NSE’s published corporate-action feed.
- NSE’s corporate-actions portal — issuer-reported purpose, ex-date and record date for every corporate action.
- The investor section at mazagondock.in — AGM notices and dividend announcements in original form.
FAQ
When is the next Mazagon Dock dividend record date?
As of 22 August 2026, the most recent record date was 20 August 2026 for the proposed ₹4.62 final, which awaits shareholder approval at the 27 August 2026 AGM. No later dividend has been announced. The cadence places the next decision with the half-year results in late October, but a record date exists only once the board files one with the exchanges.
Is the Mazagon Dock ex-date the same as the record date?
In every case since the T+1 transition, yes — each record date from October 2024 through August 2026 fell on a trading day and served as the ex-date. They would separate only if a record date fell on a non-trading day.
How many dividends does Mazagon Dock pay in a year?
Two as a baseline — an interim declared with the half-year results and a post-AGM final — rising to three in years with a second interim, as in FY2025 and FY2026. Each is a fresh board decision, not a fixed schedule.
Why did the dividend fall from ₹23.19 to ₹6 per share?
It did not. The 1:2 split doubled the share count, so later amounts are paid on twice as many shares. Split-adjusted, the FY2026 total of ₹18.12 is the highest of the four years tabled above.
Sources and data notes
- Exchange-reported Mazagon Dock dividend history as republished by Trendlyne, cross-checked on 22 August 2026.
- NSE corporate actions for issuer-reported ex-dates, record dates and purposes.
- FY2026 final and AGM details per the AGM notice as reported by ScanX; the second interim per ScanX; the first interim and FY2025 final record dates per Angel One.
- The FY2025 second interim record date and the stock split as reported by Business Standard.
- Settlement mechanics per NSE’s move to T+1, completed January 2023.
Record dates and amounts are historical facts as filed; future dividends can change in amount, timing or existence. Confirm the latest filing on NSE or the company’s investor page before relying on any date.
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 not guaranteed, and market prices adjust around ex-dates; verify current filings and consider a qualified professional before acting.