Dividend Stock: 500%! Ex-date - This Bluechip IT company fixes record date 2022, payment date | HCL Tech Share Price target

HCL Tech Share Price Dividend 2022, HCL Share Dividend Ex Date 2022, HCL Share Dividend Record Date, Payout Date, Payment Date: HCL Technologies Limited, NSE: HCLTECH, will pay a whopping 500 per cent dividend to its shareholders. The bluechip IT company made the announcement about dividend payment while releasing its second quarter result. HCL Tech is the country's third largest IT company. The Noida headquartered company through an exchange filing informed the record date for the dividend payment and the dividend payment date. This is the third interim dividend announced by HCL Tech this year. 

HCL Dividend Amount 2022

HCL Tech will pay a Rs 10 dividend per equity share to its shareholders. The face value of each share of HCL Tech is Rs 2. The dividend amount of Rs 10 translates into 500 per cent.

"The Board of Directors has declared an Interim Dividend of Rs. 10/- per equity share of Rs 2 each of the company for the Financial Year 2022-23," HCL Tech said in a filing.

HCL Dividend Ex-Date 2022 

The ex-dividend date is usually one business day before the record date. HCL Tech shares will trade ex-date one day before the record date. HCL Tech ex-dividend date is October 19.

What Is Ex-Dividend Date

If a person buys a stock or share on the ex-dividend date or after, he/she will not be eligible for receiving the benefits of the dividend. To receive a dividend, one must buy stock(s) before the ex-dividend date.

HCL Dividend 2022 Record Date 

HCL Tech has fixed the record date for determining the eligibility of the shareholders who will receive a Rs 10 interim dividend. It means that those having HCL Tech shares in their Demat account on the record date will receive the dividend amount.

"The record date of October 20, 2022, fixed for the payment of the aforesaid interim dividend has been confirmed by the Board of Directors," the IT company said.

HCL Dividend Payment, Payout Date 2022

According to HCL Tech, the dividend will be paid to the shareholders in the month of November. "The Payment date of the said interim dividend shall be November 2, 2022," HCL Tech said.

HCL Tech share dividend amount will be credited directly into the bank accounts of the shareholders.

HCL Dividend History 

This is the third interim dividend announced by HCL Tech this year. Before this, HCL had paid an interim dividend of Rs 10 in July and Rs 18 in April. 

In the last Financial Year -2021-22, the company paid dividends on four occasions. This included four interim dividends and one special dividend. The interim dividends were paid as -- Rs 6 in April;  Rs 6 in July; Rs 10 in October and Rs 10 in January. HC Tech special dividend of Rs 10 was paid to the shareholders in April.  

HCL Tech dividend yield is 4.78 per cent.

HCL Share Price History 

HCL Tech is a blue-chip IT company. HCL Tech stock has jumped over 5 per cent in the last five trading sessions (October 10 to 14). In 2022 so far, HCL Tech share price has delivered a negative return of around 25 per cent to its investors. The stock is currently available at a discount of around 23 per cent from its 52-week high of Rs Rs 1359.40 on the NSE. The 52-week low is Rs 877.35.

HCL Tech Q2FY23 Result

In the July-August quarter of FY23,  HCL Tech reported a 7.05 per cent YoY increase in its consolidated net profit to Rs 3,489 crore. The company’s revenue jumped 19.51 per cent during Q2FY23 to Rs 24,686 crore from Rs 20,655 crore a year ago. HCL Tech’s net profit had stood at Rs 3,259 crore in the corresponding period a year ago.

HCL Share Price Target NSE, BSE

Brokerage firm Morgan Stanley has set a new target for HCL Tech share price after the company reported better-than-expected results in the second quarter. It has set a new target of Rs 1100.

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