Impact of concurrent annual dividend and interim/special dividend announcements on stock prices: a study of indian stock market

Corporate announcements are those activities taken by the management of the corporate entity to increase the shareholder value. This paper attempts to find out how market reacts to annual dividend and concurrent annual dividend and interim/special dividend announcements of the stocks listed in S&P CNX 500 index of National Stock Exchange for the period 2014-2019 using Event study Methodology. The results of the study show positive significant returns around annual dividend and interim/special dividend announcements. However, the magnitude of return is found to be high for concurrent annual dividends and interim/special dividends than pure annual dividend announcements.