Description
BSE announces adjustment of Futures and Options contracts for Punjab National Bank (PNBK) due to Final Dividend of Rs. 3.00 per share for FY 2026-27, with ex-date set as June 12, 2026.
Summary
BSE has announced adjustments to all Futures and Options contracts on Punjab National Bank (Derivatives Asset Code: PNBK, Equity Scrip Code: 532461) in the Equity Derivatives Segment. The adjustment is necessitated by PNB’s declaration of a Final Dividend of Rs. 3.00 per equity share for FY 2026-27, with June 13, 2026 set as the Record Date. Contract adjustments will be implemented on June 11, 2026 (the day before ex-date).
Key Points
- Punjab National Bank has fixed June 13, 2026 as the Record Date for Final Dividend payment
- Dividend amount: Rs. 3.00 per equity share for FY 2026-27
- Ex-date: June 12, 2026 (Friday)
- Contract adjustments will be made on June 11, 2026 (Thursday)
- Both Options and Futures contracts on PNBK will be adjusted
- Adjustment is in pursuance of Exchange Notice 20180710-26 and SEBI Master Circular SEBI/HO/MRD/DP/CIR/P/2016/135 dated December 16, 2016
Regulatory Changes
No new regulatory changes. This adjustment is executed in line with existing framework:
- BSE Exchange Notice No. 20180710-26 (Review of Adjustment of corporate actions for stock options)
- SEBI Master Circular No. SEBI/HO/MRD/DP/CIR/P/2016/135 dated December 16, 2016
Compliance Requirements
- Trading members of the Equity Derivatives Segment are informed and must account for adjusted strike prices and futures prices effective June 12, 2026
- Members requiring further details should contact their respective BSE relationship manager
Important Dates
| Date | Event |
|---|---|
| May 14, 2026 | BSE Notice issued |
| June 11, 2026 (Thursday) | Adjustment date — strike prices and futures prices adjusted at end of day |
| June 12, 2026 (Friday) | Ex-date — adjusted prices applicable for trading |
| June 13, 2026 | Record Date for Final Dividend payment |
Impact Assessment
Options Contracts: All strike prices for PNBK options will be reduced by Rs. 3.00 (the full dividend value) at the end of June 11, 2026. Adjusted strike prices will be effective for trading from June 12, 2026.
Futures Contracts: The adjusted futures price will be computed as the daily mark-to-market settlement price of each futures contract on June 11, 2026, minus Rs. 3.00. This adjusted rate will serve as the base rate/previous close for trading on June 12, 2026.
Market Impact: This is a standard mechanical adjustment and should be price-neutral for derivative holders. Traders with open positions in PNBK F&O contracts should be aware of the adjusted prices to avoid mispricing decisions around the ex-date.
Impact Justification
Routine dividend-driven F&O contract adjustment for PNB; affects derivative traders holding PNBK contracts but is a standard corporate action adjustment with clear methodology and timelines.