HCL Surprises Investors By Announcing Interim Dividend Date In Record Time! This Will Be 85th Dividend By HCL


Sheetal Bhalerao

Sheetal Bhalerao

Mar 21, 2023


Friday saw a surge in IT giant HCL Technologies after the Board declared a record date for interim dividend for FY 2023-24. 

HCL Surprises Investors By Announcing Interim Dividend Date In Record Time! This Will Be 85th Dividend By HCL

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. 


Sheetal Bhalerao
Sheetal Bhalerao
  • 535 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Business
Dec. 8, 2022

Beat The Burden Of Medical Inflation With A Health Insurance

As disease rates rise and medical technology develops, treatment costs climb. It’s essential to understand that medical costs are not exclusively associated with hospitals. The cost of prescription drugs, diagnostic procedures, ambulance and operating room fees, consultations with doctors, and other costs are also constantly increasing. All of them could put a big strain on […]

Business
Dec. 8, 2022

3 Biggest Changes Of iOS 16.2 Update That Every iPhone User Should Know!

In its latest update Apple said that it is preparing for the iOS 16.2 update for iPhones across the world. Notably, like the previous release, there are a couple of changes coming for the iPhones.  iOS 16.2 Update Release Date So far, Apple has not announced a release date for iOS 16.2 update. Reportedly, the […]

Business
Dec. 8, 2022

300 Microsoft Employees Create Employee Union, First Time Ever: This Is How Microsoft Reacted

Around 300 workers at Microsoft Corp.’s ZeniMax Studios have commenced the process of forming a union which is said to be the first at the software giant in the US.  Here, Microsoft Corp.’s ZeniMax Studios known for popular video games including Skyrim and Fallout. Forming Union In Microsoft Corp Moreover, the quality assurance employees at […]

Business
Dec. 7, 2022

India Beats China In Air Travel Safety: Ranking Jumps From 102 To 48 In Global Aviation Safety

India’s air safety protocols and executions have improved drastically over the years, as validated by the findings of a specialized agency of the United Nations, the International Civil Aviation Organization or ICAO. The UN watchdog has upgraded India’s ranking in terms of aviation safety to the 48th position, jumping past the rankings of countries like […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online