Dividend: Record date V/S Ex-Dividend Date

hi friends,
as far as i could find out Company declares Record date on which it Checks its books & sends dividends to all those having shares on record date are paid dividends.
while Ex-div date is declared by Exchange on the basis of Settlement cycle (T+2or T+3), 2 or 3 trading days before Record date, meaning those having Shares in their name Before Ex. date will have their names in company books on record date (2or 3 ) days back as per the prevalent rule in the exchange (NSE/BSE being T+2, so 2 days after).
so anybody buying shares on Ex-div date or later wont recieve dividend even though he had bought them before record date. meaing you have to buy shares before Ex. div date if u want to recieve dividend. & even if you sell it on or after Ex. div date (even before Record date) you are entitled to recieve dividend as the changes will take 2 (or 3) days to get in record books (depending on settlement cycle).
but i faced a problem, Mirc electricals ltd declared RECORD date 26/3/07 & NSE declared EX-DIV date as 23/3/07. i bought shares on 21/3 & sold on 23/3(i.e. Ex div date) under BTST from ICICI DIRECT.
but now on recieving my Demat statement, i see that there is no mention of this particular dividend.

is it because i sold them under BTST before taking delivery at all?
or my funda of Ex. Div date & record date is wrong.

Vijay Malik

I think u shd be getting the dividend either by post or by ECS .. chk with ICICI Dir

How have u been getting dividends otherwise (for non BTST deals) ?
AGILENT

Thanks. The only dividend i got till now is tech mahindra by post. Only upon enquiry, i was told by ICICI that my ecs option was not initiated by default when i opened my account 3months back. So i applied for ecs activation last week only.
Your reply connotes that my calculations are right n am eligible for dividend, while no one at ICICI or the registrar "intime" of company are giving satisfactory answers. ICICI gals only ask, "did you have shares on record date?" upon asking one of them, what did she think ex dividend date means. She replied, it does not have any significance. Only date that matters is record date, n again," Did you have shares on record date?"
GOD save us from such CSE's.

Thanks. The only dividend i got till now is tech mahindra by post (this trade was not BTST) . Only upon enquiry, i was told by ICICI that my ecs option was not initiated by default when i opened my account 3months back. So i applied for ecs activation last week only.
Your reply connotes that my calculations are right n am eligible for dividend, while no one at ICICI or the registrar "intime" of company are giving satisfactory answers. ICICI gals only ask, "did you have shares on record date?" upon asking one of them, what did she think ex dividend date means. She replied, it does not have any significance. Only date that matters is record date, n again," Did you have shares on record date?"
GOD save us from such CSE's.

I received the dividend of mirc electric ltd by ECS on 10th may.

Wanted to know,

Does this principle of Ex-Date and Record Date is similar for all the corporate actions as well..???

dr_vijaymalik I liked ur record date & Ex-date differentiation.
Thanks for your contribution,
Durai007