Tech Mahindra, the country’s fifth largest IT exporter firm, declared a special dividend on Tuesday. 18 per equity share 5 each. On Tuesday, the IT major also presented its quarterly and half-yearly results for the period ending September 30, 2022.
The company has fixed the date of November 10. record date Determination of shareholders eligible for dividend benefits. Tech Mahindra special payment plan Dividend on 24 November 2022.
“The Board of Directors in its meeting held on 1st November, 2022 has declared a special dividend 18 per equity share at face value 5/- each i.e. 360% of the face value,” the company said in its regulatory filing.
“Special dividend shall be paid on Thursday, 24th November, 2022 to the equity shareholders of the Company, whose names appear in the register of members of the Company or in the records of the depositories as the beneficial owners of the shares on Thursday, the 10th November. , 2022,” it added.
IT services provider Tech Mahindra on Tuesday reported 4 per cent year-on-year decline in consolidated net profit 1,285 crore for the quarter ended September 30. Consolidated revenue from operations for the second quarter of the financial year 2022-23 came in 13,129.5 crore, up 3.3 per cent sequentially and 20.6 per cent year-on-year. stood on revenue 10,881.3 crore in the same quarter of the previous financial year.
Shares of Tech Mahindra closed with a gain of 0.77 per cent on BSE 1071.65 per. The market cap of the company is approx. 1,04,298.49 crores.
At present, Tech Mahindra’s dividend yield is around 4.2 per cent. The company has a strong track record of distributing dividends to its shareholders.
Tech Mahindra has declared equity dividend amounting to 900.00 per cent for the year ending March 2022 45 per share.
There are five important dates for dividends:
1. Date of Declaration: On this day, the Board of Directors of the company approved the rate of dividend per equity share.
2. Record date: This date is also proposed by the Board of the company to identify the names of shareholders eligible for dividend benefits. All shareholders whose names appear in the list of the Company as on the end of the record date shall be eligible to receive the dividend. Typically, at least 5 clear working days are required between the date of declaration and the date of record.
The record date set by Tech Mahindra is November 10, 2022.
3. Cum Dividend Date: This is the last date to buy the shares to be eligible to receive the dividend. This date is one day before the ex-dividend date and two days before the record date.
4. Ex-Dividend Date: On this day the price of equity shares of a company gets adjusted for dividend payment. This is one business day before the record date. Tech Mahindra ex-dividend date will be November 9.
5. Payment Date: This date is the actual day on which a listed company completes its dividend payment to eligible shareholders. The payment of dividend is usually completed within 30 days of its approval.
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