Friday saw a surge in IT giant HCL Technologies after the Board declared a record date for interim dividend for FY 2023-24.
Declaration Of Interim Dividend
Coming to HCL Technologies, it is a large-cap company which recorded a market cap of Rs 300,796 Cr on Friday’s closing.
HCL Tech has declared a record date for interim dividend for FY 2023-24 in recent times.
The Board meeting is scheduled to be held on April 19 & 20, 2023 to consider financial results for the financial year ending March 31, 2023.
During a stock exchange filing, HCL Technologies noted, “We would like to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on April 19 & 20, 2023 to consider amongst others – 1) Audited Financial Results of the Company for the financial year ending March 31, 2023. 2) Payment of Interim dividend for the financial year 2023-24. During the board meeting, the items relating to financial results and payment of Interim dividend shall be considered. The Record Date for determining the entitlement of the shareholders for the payment of the aforesaid interim dividend shall be April 28, 2023, subject to the approval of the interim dividend by the Board of Directors.”
Rich History Of Dividends
Prior to this, the IT service provider has announced an equity dividend of 2100.00% at face value of Rs 2, or Rs 42 per share, for the fiscal year that ends in March 2022.
Here, the dividend yield at the current share price of Rs 1,111.90 is 3.77%.
So far, 84 dividends have been issued by HCL Technologies Ltd. since September 25, 2000, according to Trendlyne statistics.
In the last 12 months, the company has declared an equity dividend of Rs 48.00 per share.
This generates a dividend yield of 4.31% at the current share price of Rs 1,111.90.
Being a leader in IT services, HCL Technologies reported a 19% growth in consolidated net profit for the December quarter (Q3FY23), coming in at Rs 4,096 crore over Rs 3,442 crore in the same quarter (Q3FY22) of the previous year.
During Q3FY23, the company’s revenue from operations grew 19.5% to Rs 26,700 crore during Q3FY23 compared to Rs 22,331 crore reported during Q3FY22.
In Friday’s trading session at NSE, the shares of HCL Technologies closed at Rs 1,111.9 apiece, up by 3.68% from the previous close of Rs 1,072.40.
