Max Healthcare fixes July 3 record date for Rs 2 dividend
Max Healthcare Institute Ltd has fixed July 3, 2026, as the record date to determine eligibility for a final dividend of Rs 2 per equity share, recommended by the board on May 21, 2026. The payout is subject to approval at the Annual General Meeting on July 30, 2026. The company detailed the tax deduction at source (TDS) rates under the Income-tax Act, 2025, specifying exemptions for resident shareholders with dividends under Rs 10,000 and variable rates for non-residents based on Tax Treaty benefits. Members must submit necessary documentation to the registrar by July 10, 2026, to ensure appropriate tax deduction.
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Max Healthcare Institute Ltd has fixed Friday, July 3, 2026, as the record date to determine members eligible for a final dividend of Rs 2 per equity share. The dividend, amounting to 20% of the face value of Rs 10 each, was recommended by the board on May 21, 2026, and is subject to approval by shareholders at the Twenty-Fifth Annual General Meeting scheduled for Thursday, July 30, 2026. The company will pay the dividend to members holding shares in dematerialized or physical form as of the record date.
Tax Deduction at Source
In compliance with the Income-tax Act, 2025, the dividend is taxable in the hands of shareholders for Tax Year 2026-27. The company will deduct tax at source (TDS) at applicable rates, which vary based on the residential status of the member and the documents submitted. For resident members, no tax is deducted if the total dividend for the tax year does not exceed Rs 10,000, provided a valid Permanent Account Number (PAN) is available. A 10% TDS applies where a valid PAN is updated with the depository participant or registrar, while the rate increases to 20% for cases involving invalid or inoperative PANs.
Documentation Requirements
Members can submit specific declarations, such as Form 121 or certificates under section 395 of the IT Act, to claim lower or nil deduction. Non-resident members have the option to be governed by the provisions of the Double Taxation Avoidance Agreement (Tax Treaty) if beneficial. The standard TDS rate for non-residents is 20% plus surcharge and cess, or the Tax Treaty rate, whichever is lower. Specific categories, such as Category III Alternative Investment Funds located in International Financial Services Centre, are subject to a 10% rate, while Sovereign Wealth funds and Pension funds notified under Schedule V of the IT Act are eligible for NIL TDS.
To facilitate appropriate tax deduction, the company requires members to submit necessary forms and documents, including PAN copies and self-declarations, to the registrar, MUFG Intime India Private Limited, by Friday, July 10, 2026. The company stated that any communication received after this date would not be considered for the payment of the final dividend. Members holding shares under multiple accounts with different residential statuses may be subject to the higher applicable tax rate on their entire shareholding.
| Category | Applicable Tax Rate | Key Condition |
|---|---|---|
| Resident (Valid PAN) | 10% | PAN updated with DP/Registrar |
| Resident (No/Invalid PAN) | 20% | No exemption sought |
| Non-Resident (General) | 20% + surcharge/cess or Treaty Rate | Whichever is lower |
| AIF Category III (IFSC) | 10% + surcharge/cess | Self-declaration required |
| Sovereign/Pension Funds | NIL | Notified under Schedule V |
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE027H01010/17479d2e61724ef1.pdf
Historical Stock Returns for Max Healthcare Institute
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.03% | +8.16% | +2.46% | +1.79% | -5.84% | +344.42% |
Will Max Healthcare maintain this dividend payout ratio in the next fiscal year given the capital requirements for expansion?
How might the recent changes in the Income-tax Act, 2025 influence shareholder retention strategies for the company?
Could the strict documentation deadline impact trading volumes or share price volatility leading up to the July 10, 2026 cutoff?
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