HCL Tech Dividend: Board announces Rs 18/share payout (900%), confirms record date
HCL Tech Q4 results: HCL Technologies on Thursday announced a dividend of Rs 18 per equity share of face value of Rs 2 — a payout of 900 per cent.
HCL Technologies on Thursday announced a dividend of Rs 18 per equity share of face value of Rs 2 — a payout of 900 per cent. This marks the fourth dividend announcement by the Noida-based IT major in the past one year.
HCL Tech is India's third largest IT firm by market capitalisation, after Tata Consultancy Services (TCS) and Infosys.
HCL Tech dividend: Dividend type
The latest payout announced by the HCL Tech board is an interim dividend for the financial year 2023-24, which began on April 1, 2023.
HCL Tech dividend: When will the dividend be paid?
HCL Tech's board announced a payment date of May 9 for the latest dividend.
HCL Tech dividend: What is the record date?
The board confirmed April 28, announced earlier, as the record date for the payment of the interim dividend.
What is a record date and what does it imply?
A record date is a date that determines the shareholders eligible to receive the benefit of corporate action such as a dividend. In this case, those holding HCL Tech shares before the end of market hours on the record date, April 28, will be eligible to receive the dividend on the payment date.
HCL Tech Q4 results: Profit better than analysts' estimates
HCL Technologies reported a net profit of Rs 3,983 crore for the January-March 2023 period, up 2.8 per cent compared with the previous quarter. The quarterly net profit was better than analysts' estimates.
According to Zee Business research, HCL Tech was estimated to report a net profit of Rs 3,850 crore for the three-month period.
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