Major PSU Dividends 2026: Record Date Today for HAL (₹35), Oil India (₹7), and ONGC (₹6.25); What to Watch

Mumbai, Wednesday, Feb 18, 2026: Today marks a high-stakes "Dividend Deadline" for the Indian equity market. Over 22 major companies—led by defense behemoth Hindustan Aeronautics (HAL) and energy giants ONGC and Coal India—have officially fixed today as the Record Date for their interim dividend payouts.

For shareholders, this is the final cut-off that determines eligibility for significant cash payouts. If you notice these stocks trading at a lower price this morning, there is no cause for alarm—it is the standard Ex-Dividend adjustment in action.

Major PSU Dividends: Today's Dashboard

ONGC Announce Q3: ONGC Q3 Results: Net Profit Surges 23% to ₹11,946 Cr, Declares ₹6.25/Share Dividend

OIL India Announce Q3: Oil India Q3 Results: Profit Down 34% to ₹808 Cr; ₹7 Dividend & Russia Exit Approved

HAL Announce Q3:  HAL Q3 FY26 Results: Net Profit Soars 29% to ₹1,852 Cr

IOCL Announc Q3: IndianOil Q3 Profit Soars 322% to ₹12,126 Crore on Strong Refining Margins

PFC Announce Q3: Power Finance Corporation Q3 FY26 profit rises 15% to ₹4,763 crore, declare

HCL Announce Q3: Hindustan Copper Q3 FY2026 Profit Surges 148%, Declares 20% Interim Dividend

LIC Announce Q3: LIC Q3 Results FY26: Net Profit Jumps 17% to ₹12,958 Crore | Key Highlights

NALCO Announce Q3: Nalco Q3 Results FY26: Net Profit at ₹2,131 Cr, Posts Best-Ever Performance | NALCO

RVNL Announce Q3: RVNL Q3 Results: Net Profit at ₹324 Cr, Declares ₹1/Share Dividend

Cochin Shipyard Reports ₹145 Crore Q3 Profit, Announces 70% Dividend

GRSE Q3 FY26 Results: Net Profit Soars 74% YoY; Declares ₹81.9 Crore Dividend

Chennai Petroleum (CPCL) Q3 Results: Profit Zooms 9,200%

BPCL Q3 Results: ₹7,545 Crore Profit, ₹10 Interim Dividend Announced, Record Date February 2

Indian Bank Q3 FY26 Results: Net Profit Rises 7.3% to ₹3,061 Crore

HPCL Reports Strong Q3FY26 Performance with Net Profit of ₹4,072 Crore

Bank of India Reports Robust Q3 Growth: Business Crosses ₹16 Lakh Crore, Profit Up 7%

Union Bank of India Reports Robust Q3 FY26 Performance; Net Profit Rises to ₹5,017 Crore

Hindustan Zinc Q3 Results: Profit Jumps 46% to ₹3,879 Cr | Revenue at ₹10,922 Cr

IRFC Reports Record Q3 Profit, Hits ₹4.75 Lakh Crore AUM Milestone

BHEL Q3 Profit Jumps 206% to ₹382 Cr; Revenue Up 16% on Strong Order Execution

PNB Q3 FY26 Results: Net Profit up 13% to ₹5,100 Cr

MRPL Q3 Results: Net Profit Soars Over 4-Fold to ₹1,445 Crore

Central Bank Q3 Net Profit Jumps 32% to ₹1,263 Cr, Declares ₹0.20/Share Dividend

UCO Bank Q3 FY26 Net Profit Rises 15.8% to ₹739.5 Crore; Asset Quality Improves

Bank of Maharashtra Q3 FY26 Results: Record ₹1,779 Cr Profit, 10% Dividend

IREDA Q3 Results 2026 Net Profit Jumps 37% Loan Disbursement Up 32%

Investor Manual: 5 Critical Factors to Understand Today

As these "Income Anchors" distribute their profits, here is the technical breakdown of what is happening behind the scenes on the trading floor.

1. The "Ex-Date" Price Adjustment

On the Ex-Dividend date (Today), the stock price is automatically adjusted downwards by the exchange.

• How it works: If HAL closed at ₹4,200 yesterday, it will open today around ₹4,165.

• Why? This ensures no one can "cheat" the system by buying for the dividend and selling immediately without risk. This drop is not a loss of value; it is a transfer of value from the stock price to your future bank credit.

2. The Ownership Rule: Can You Buy Today?

Under India’s T+1 settlement cycle, you must have purchased these shares at least one business day before the record date.

• Buying Today (Feb 18): You will pay the new, lower price, but you will not be eligible for the dividend.

• Selling Today (Feb 18): If you already owned the shares yesterday, you can sell them today and still receive the full dividend. You only need to be the "owner of record" at the start of today's market session.

3. Taxation and the "TDS Trap"

Dividend income is added to your total annual income and taxed at your applicable Income Tax Slab rate.

• TDS: Companies deduct 10% Tax Deducted at Source (TDS) if your total dividend from that specific company exceeds ₹5,000 in the financial year.

• Action Required: If your total annual income is below the taxable limit, you can submit Form 15G/15H to the company's Registrar (RTA) to receive your payment without this deduction.

4. Payment Timelines

The money is not credited to your account on the record date. For the current cycle, most PSUs have committed to a payout window of 20 to 30 days.

• HAL shareholders can expect their credit on or before March 14.

• Coal India is targeting completion by March 13.

5. Looking Ahead: The Next Wave (Feb 20)

The dividend season continues through the week. Keep a close watch on Friday, February 20, which is the record date for several other high-yield stocks:

• Power Finance Corp (PFC): ₹4.00 per share.

• IRCTC: ₹3.50 per share.

• SJVN Limited: ₹1.15 per share.

Market Outlook: Why PSUs are Dominating

The surge in PSU dividends in 2026 is driven by the Ministry of Finance's mandate for profitable state firms to maintain consistent payout ratios. With sectors like Defense (HAL) and Energy (ONGC, Coal India) reporting record Q3 earnings, these dividends are currently offering yields that rival long-term Fixed Deposits while providing potential for capital growth.

Final Note: While dividend yields are attractive, long-term wealth is built through "Dividend Reinvestment" and capital appreciation. Avoid the "Dividend Trap" of buying solely for a one-time payout if the company's fundamentals are not in line with your goals.