Tech Mahindra Dividend 2022, Tech Mahindra Share Dividend 2022 News, Record Date, Ex Date, Payment Date, Amount: Tech Mahindra, NSE: TECHM, has announced a special dividend for its shareholders. The IT major made the announcement while releasing its July-September quarter results for the financial year 2022-23. Tech Mahindra, the country's fifth largest IT company, reported a 4 per cent decline in consolidated profit after tax at Rs 1,285 crore in the September quarter. The Mahindra Group company had reported a net profit of Rs 1,339 crore in the year-ago period.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

 

Tech Mahindra Dividend 2022, Tech Mahindra Dividend News 

 

Tech Mahindra has announced to pay a whopping 360 per cent dividend to its shareholders. Accordingly, Tech Mahindra dividend amount translates into Rs 18 apiece. Tech Mahindra shares face value is Rs 5 each. 

"Declared Special dividend of Rs. 18/- per equity share of Rs. 5/- each i.e. 360% of the face value," the company said in an exchange filing on Tuesday, November.

 

Tech Mahindra Dividend Record Date 2022

 

Tech Mahindra, which is a USD 6 billion company, has fixed the record date for the paymen of Rs 18 dividend. The record date is nothing but a date that allows a company to determine the eligibility of shareholders to receive the benefits of corporate actions like dividend, bonus, split and others. Tech Mahindra dividend 2022 record date is November 10. It means that investors having shares of Tech Mahindra in Demat account on November 10 would receive Rs 18 dividend.  

"Fixed 10th November 2022 as the Record Date for determining the members entitled to receive the Special Interim dividend," the company said in the filing. 

 

Tech Mahindra Dividend Ex Date

 

An ex-date is a business day prior to the record date. Accordingly, Tech Mahindra shares will trade ex-date a business day before the record date. Tech Mahindra ex-dividend date would be November 9.

To receive the benefits of corporate actions like dividend, bonus, split and others, a person should buy a company's shares before the ex-date so that shares are credited to the Demat account before the record date. 

 

Tech Mahindra Dividend Payment Date, Tech Mahindra Dividend Payout Date 2022

 

The company has fixed November 24 as the payment date in order to pay the special dividend to all the shareholders. 

"The Special dividend shall be paid on Thursday, 24th November, 2022 to equity shareholders of the Company whose names appear on the Register of Members of the Company or in the records of Depositories as beneficial owners of the shares as on Thursday, 10th November, 2022," the company said.

 

Tech Mahindra Dividend History

 

Tech Mahindra paid a 900 per cent dividend in the last financial year. The company in the past 12 months, declared an equity dividend, which amounted to Rs 45 per share.

 

Tech Mahindra Q2 Results

 

Tech Mahindra reported a 4 per cent decline in consolidated profit after tax at Rs 1,285 crore in the September quarter. The company's overall revenue rose 20.7 per cent to Rs 13,129 crore in the second quarter of the current fiscal. In the same period a year ago, it stood at Rs 10,881 crore, according to a statement. Tech Mahindra's Chief Executive Officer and Managing Director C P Gurnani described the market conditions as evolving and said that supply side challenges continue.

It reported a total contract value of newly signed deals at USD 716 million for the September quarter as against USD 750 million in the year-ago period and USD 802 million in the preceding June quarter.

 

Tech Mahindra Share Price NSE 

 

Tech Mahindra shares closed 0.43 per cent higher at Rs 1,067.95 apiece on the NSE on Tuesday, November 1. The IT stock has given a negative return of 40.16 per cent in year-to-date (YTD). Tech Mahindra stock 2-week range is Rs 1838 - Rs 943.70. 

Tech Mahindra is part of Mahindra Group, which was founded in 1945. Mahindra Group is one of the largest multinational federation of companies with over 2,60,000 employees in over 100 countries.

ALSO READ | Will Nykaa make a comeback after strong Q2 numbers? Stock zooms over 20% in 2 days