L&T dividend 2024: Tech company announces Rs 28 dividend, check record and payment dates

Engineering and construction major Larsen & Toubro (L&T) Larsen & Toubro's (L&T) board of directors on Wednesday, May 8, recommended a final dividend of Rs 28 per equity share for FY24, according to a stock market disclosure. 

"The Board of Directors has recommended a final dividend of Rs.28/- per share of the face value Rs. 2/- each (in addition to the special dividend of Rs. 6 per share paid in August 2023) for the financial year ended March 31, 2024 (previous year final dividend Rs. 24/- per share). The Company will arrange to pay the proposed Final Dividend after approval of the shareholders in the ensuing annual general meeting," L&T said in a BSE filing.

The tech company has also announced a record date i.e. June 20, 2024, according to the regulatory filing.

L&T has also announced its financial results for the fourth quarter ended on March 31, 2024, along with a dividend announcement. The company reported a 10.2 per cent increase in consolidated net profit at Rs 4,396.12 crore in the March quarter on the back of higher income. It had posted a consolidated net profit of Rs 3,986.78 crore in the year-ago period. L&T's consolidated income of the company rose to Rs 68,120.42 crore in the latest fourth quarter from Rs 59,076.06 crore recorded a year ago, L&T said in a stock exchange filing.

Meanwhile, shares of L&T closed trading at Rs 3,485.2 each, up 1.53 per cent on BSE today, May 8.

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