Kotak Mahindra Bank Recommends Dividend of Rs 0.65 Per Share; Notes TDS Provisions for FY 2026-27

Kotak Mahindra Bank Recommends Dividend of Rs 0.65 Per Share; Notes TDS Provisions for FY 2026-27​

Kotak Mahindra Bank Limited has announced a dividend recommendation of Rs 0.65 per Equity Share for shareholders, following the Board of Directors meeting held on May 2, 2026. The dividend is subject to shareholder approval at the forthcoming 41st Annual General Meeting (AGM), which is scheduled for Saturday, August 1, 2026.

The Bank has specified that if the dividend is declared at the AGM, shareholders holding Equity Shares as of the Record Date, set for Friday, July 17, 2026, will be entitled to the payout.

In light of current regulations under the Income-tax Act, 2025 (IT Act), the distributed dividend income will be taxable in the hands of shareholders during the Financial Year (FY) 2026-27. Accordingly, the Bank is obligated to deduct Tax at Source (TDS) based on applicable rates and necessary declarations.

A summary of the recommended dividend details is provided below:

Shareholders to Provide Details for TDS Determination​

The Bank requires shareholders to provide updated details and relevant documents to enable the appropriate deduction of TDS or withholding tax. These requirements differ depending on whether the shareholder is resident or non-resident.

For both resident and non-resident shareholders, the completion and update of specific information—such as Permanent Account Number (PAN) and residential status as per the IT Act for FY 2026-27—is necessary. The Bank noted that it will rely on details already registered in its records or those maintained by the Depositories.

The deadline set for shareholders to submit required documentation and details is Tuesday, July 21, 2026. This information must be submitted via the designated portal or through email.

The Bank advised that failing to provide incomplete or unsigned forms and declarations may result in the Bank not granting any relief or exemption under the TDS provisions. Shareholders were informed that no communication regarding tax determination will be entertained after July 21, 2026.

KOTAKBANK Stock Price Movement​

Today, Kotak Mahindra Bank Limited shares edged higher, settling at ₹377.15 after gaining 1.95%. The equity saw heavy activity throughout the day, with over 30.72 million shares traded during the session.