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Wipro Clarifies on Ex-date for ADR Stock Dividend
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Business Wire India | 12 Jun, 2017
In view of todayâs market activity in the Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) stock, the New York Stock Exchange has contacted the Company in accordance with its usual practice.
The Company felt that it was important to clarify to the market that the payable date and ex-dividend date for its ADR (American Depository Receipts) bonus issue, or stock dividend, are yet to be determined.
At NYSE, for ADR stock dividends or bonus issue, the ex-dividend date is set as the first business day after the stock dividend is paid, which is also after the record date.
Therefore NYSE has not yet declared an ex-dividend date for Wipro's ADR program. Once the payable date is declared NYSE will announce the ex-dividend date for the ADR.
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