Major PSUs Dividend Record Date Tomorrow: HAL, Coal India, ONGC – What Investors Should Know

If you are an investor in public sector stocks, tomorrow's date is circled on your calendar. February 18, 2026 is the record date for dividend payouts from several major PSUs including Hindustan Aeronautics, Coal India, ONGC, and Oil India.

But here is the critical part. To receive these dividends, you must own the shares today, February 17. Let me explain why and break down everything you need to know in simple terms.

The Golden Rule: Why Today is the Last Day

The stock market works on a T+1 settlement cycle. Buy shares today, they get credited to your demat account tomorrow.

For the February 18 record date, you must be the owner of shares when the company finalizes its list of eligible shareholders at the end of tomorrow. That means today, February 17, is the last day to buy these stocks and qualify for the dividend.

Buy tomorrow and you miss the dividend entirely. The stock will also trade at a lower price tomorrow because the dividend amount gets adjusted downward on the ex-date.

Key PSU Dividends at a Glance

Here are the major PSUs going ex-dividend tomorrow with their payout details.

Over two dozen companies in total have fixed February 18 as record date for dividend payouts.

Breaking Down the Big Payouts

Hindustan Aeronautics Limited: ₹35 Per Share

HAL is offering the highest dividend among this batch at ₹35 per share. At current market price, this translates to about 1.2 percent yield for this interim payout alone.

The company has confirmed payment by March 14, 2026. HAL has been a consistent dividend payer, benefiting from strong order books and government focus on defense manufacturing.

Coal India: ₹5.50 Per Share

Coal India is paying ₹5.50 per share as its third interim dividend for the current financial year. This adds to dividends already paid earlier.

Given Coal India's massive size, the total dividend outgo runs into thousands of crores. Payment is scheduled by March 13.

ONGC and Oil India: Energy Majors

ONGC is paying ₹6.25 per share. Oil India is paying ₹7 per share. Both energy PSUs have maintained their tradition of rewarding shareholders despite global oil price volatility.

MSTC, PFC and SJVN

MSTC is paying ₹7.60 per share. Power Finance Corporation is offering ₹4 per share. SJVN is paying ₹1.15 per share.

What Happens Tomorrow on Ex-Date

Understanding the ex-date is crucial. Tomorrow, February 17, is the ex-date for all these dividends. Here is what that means.

When a stock goes ex-dividend, its price adjusts downward by the dividend amount. If a stock trades at ₹1,000 and pays ₹35 dividend, on ex-date it will open around ₹965.

This adjustment ensures no arbitrage. New buyers purchasing tomorrow buy a stock that no longer carries the right to the declared dividend.

Do not be alarmed if you see a drop in stock prices tomorrow. That is normal. Your dividend will be credited separately later.

Tax on Dividends: What You Actually Receive

Here is something many investors overlook. Dividends are not tax-free. TDS applies.

If your total dividend income exceeds ₹5,000 in a financial year, the company deducts TDS at 10 percent. For HAL's ₹35 dividend, you actually receive around ₹31.50 per share after tax.

This is not an additional tax. You can adjust it when filing returns. If you are in lower tax bracket, submit Form 15G or 15H to avoid TDS deduction. Do this today if needed.

Should You Buy Today Just for Dividend?

This is the question many investors ask. Is it worth buying today only to get dividend?

Here is what you need to consider.

Price adjustment. Stock price falls tomorrow by approximately dividend amount. Your net worth stays same. You get cash, but stock value drops.

Transaction costs. Buying and selling involves brokerage, STT, GST. These eat into gains if you plan to sell soon.

Holding period. If you are long-term investor and planned to buy anyway, today is good. You get dividend as bonus. If buying only for dividend and selling tomorrow, you may end with loss after costs and price adjustment.

Capital gains tax. Sell within one year, short-term capital gains tax at 15 percent applies.

Dividend investing works best for long-term holders. If already invested, enjoy payout. If planning long-term, today is good entry. But do not buy just for dividend and sell immediately.

How Dividends Get Credited

Process is straightforward. Company finalizes eligible shareholders based on record date data. Payment processed through banking system.

HAL pays by March 14. Coal India by March 13. Others will announce soon.

Dividend credits directly to bank account linked to your demat. Ensure bank details are updated with broker or depository participant.

If you hold physical shares, you may receive dividend warrant by mail. But most investors have demat holdings, so credit is electronic.

Quick Checklist for Investors Today

Already own shares? No action needed. You automatically get dividend.

Want to buy? Do it before market closes today. Tomorrow's purchase won't qualify.

Check bank details. Ensure account linked to demat is correct.

Form 15G/15H. If total dividend for year will exceed ₹5,000 and you want to avoid TDS, submit forms today.

Don't panic tomorrow. Price drops are normal ex-date adjustment.

Traders be careful. Buying today and selling tomorrow may not be profitable after adjustment and costs.

Historical Context

These PSUs have strong dividend track records.

HAL has increased dividend consistently. From ₹20 in 2021 to ₹35 now.

Coal India known for high yields. Total dividend for year often crosses 5-6 percent.

ONGC and Oil India maintain stable dividends despite oil volatility.

PFC and SJVN consistent though lower yields.

Market Outlook for PSU Stocks

PSU stocks have seen renewed interest due to government focus on defense, energy, infrastructure.

HAL benefits from defense manufacturing push. Coal India remains monopoly. ONGC and Oil India critical for energy security. PFC key in power sector financing.

These fundamentals, plus regular dividends, make them attractive for long-term investors.

However, PSU stocks also come with government policy risks and sometimes lower growth than private peers.

Bottom Line

February 18 record date. Last day to buy is today.

HAL paying ₹35, Coal India ₹5.50, ONGC ₹6.25, Oil India ₹7, MSTC ₹7.60, PFC ₹4, SJVN ₹1.15.

Buy today, get dividend. Buy tomorrow, miss it.

For long-term holders, enjoy the payout. For new investors considering entry, today offers dividend bonus but remember price adjusts tomorrow.

Dividend investing rewards patience. These PSUs have track record of shareholder returns. Choose based on your goals, not just dividend chase.

Disclaimer: Information based on company announcements to stock exchanges. Dividend amounts and dates are confirmed but subject to company policies. This is for informational purposes only, not investment advice. Stock markets involve risks. Consult your financial advisor before making decisions.