Tech Mahindra dividend: Tech Mahindra announces 360% special dividend; fixed recording date | Jobs Vox

The IT major, while announcing its Q2 results on Tuesday, declared a special interim dividend of 360% amounting to Rs 18 per share with a face value of Rs 5.

The company has set November 10 as the record date for the dividend. Hence, investors holding shares of Tech Mahindra on the record date are entitled to the payment of the above dividends.

In addition, the company specified November 24 as the dividend payment date, that is, the date when the dividend will be paid to qualified investors.

According to Trendline, the company has announced a total of 24 dividends since March 2007.

For FY22, the company has declared a dividend on equity of 900%, which is Rs 45 per share. At the current share price of Rs 1072.50, this results in a dividend yield of 4.2%.

The company reported a 4% year-on-year decline in consolidated net profit for the quarter ended September 2022 at Rs 1,285 crore.

Ahead of its results, the large-cap stocks settled at Rs 1,070.90.