Tech Mahindra Special Dividend: IT Major's stock trades ex-dividend, check details - Tech Mahindra Share Price NSE

Tech Mahindra Dividend 2022, Tech Mahindra Share Dividend 2022 News, Record Date, Ex Date, Payment Date, Amount: Tech Mahindra, NSE: TECHM, is giving a special dividend to its shareholders. An announcement in this regard was made by the company while releasing its second quarter results for the financial year 2022-23. The country's fifth largest IT services exporter had reported a 4 per cent decline in consolidated profit after tax at Rs 1,285 crore in the September quarter. IT major'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.

Tech Mahindra 360 Per Cent Dividend

The board of directors of Tech Mahindra has announced to pay a whopping 360 per cent dividend to its shareholders. Accordingly, Tech Mahindra's dividend amount translates into Rs 18 apiece. Tech Mahindra share's 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 is a USD 6 billion company. It has fixed the record date for the payment of Rs 18 dividend. 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. 

What is Record Date?

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 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.

Click Here For Latest Updates On Stock Market | Zee Business Live