HCL Tech dividend 2023: Shares to trade ex-dividend on this date

HCL Technologies shares will trade ex-dividend on Thursday, January 19. India’s third largest IT company by market value last week announced an interim dividend of Rs 10 per share after the release of its financial results for the quarter ended December 2022.

The IT giant has fixed January 20 as the record date for the dividend payout, and February 1 as the payment date. 

Also Read: HCL Tech to modernise IT operations for State Farm

What ex-dividend and record dates really are

A record date is a day on which a company identifies the shareholders eligible to receive a dividend payout. A payment date is the actual day when the dividend is transferred to the eligible shareholders.

Simply put, these dates determine which investors will actually receive a dividend.

Also Read: What led to correction in Indian IT stocks in 2022?

HCL Tech dividend history

HCL Tech has declared 84 dividends since September 25, 2000, according to stock analysis portal Trendlyne. 

The latest dividend takes the total payout to Rs 48 per share in four instalments in the last one year, with a dividend yield of 4.32 per cent, according to Trendlyne data. Dividend yield is a key metric that determines the amount of divident payouts by a company relative to its share price. 

Also Read: IT stocks at crossroads, says Kotak Securities report

HCL Tech Q3 Results

Last week, HCL Tech reported 17.3 per cent quarter-on-quarter growth in a net profit to Rs 4,096 crore for the October-December period. Its quarterly revenue, at Rs 26,700 crore, increased 8.2 per cent.

According to Zee Business research, HCL Tech was estimated to report a quarterly net profit of Rs 3,850 crore and revenue of Rs 26,400 crore.