HCL Tech announces interim dividend of ₹10 per share. Know record, ex-dividend, payment dates
2 min read 12 Jan 2023, 05:39 PM ISTIn the first six months of FY23, HCL Tech paid three interim dividends. The company has paid a dividend of about ₹28 per share. In percentage terms, HCL Tech has paid a whopping 1,900% during this period.
PremiumHCL Technologies continues to gift its shareholders with yet another dividend for the fiscal year FY23. While announcing December 2022 quarter, the IT giant has declared a fourth interim dividend of ₹10 per equity share. The company has already fixed the record date for the same. HCL Tech has paid so far three interim dividends in the current fiscal. The company exceeds expectations during the third quarter of FY23 across parameters.
As per the regulatory filing, HCL Tech's board of directors has declared an interim dividend of ₹10 per equity share having a face value of ₹10 each for the financial year 2022-23.
The record date for the fourth interim dividend is fixed on January 20. On the record date, the company will determine eligible shareholders for the dividend payout. HCL Tech shares will turn ex-dividend on January 19 ahead of the record date.
The payment date of the said interim dividend shall be February 1, 2023, it said.
In the first six months of FY23, HCL Tech paid three interim dividends. The company's first interim dividend was ₹18 per share (900%) in April, while the second interim dividend stood at ₹10 per share (500%) in July followed by another ₹10 per share third interim dividend (500%) in October this year. Thereby, the company has already paid a dividend of about ₹28 per share so far in the current fiscal. In percentage terms, HCL Tech has paid a whopping 1,900% during this period.
During the fiscal that ended as of March 31, 2022, HCL Tech paid a huge 2,100% dividend aggregating to ₹42 per share to its investors. As per the financial report, HCL Tech's dividend payment stood at ₹11,389 crore in FY22.
In Q3FY23, HCL Tech posted a consolidated net profit of ₹4,096 crore up by 19% from ₹3,442 crore a year ago same period. Sequentially, the PAT was up by 17% from ₹3,489 crore in September 2022 quarter. EBIT margin expanded by 165 bps sequentially to 19.6%, while the net margin climbed 117 bps QoQ to 15.3%.
Consolidated revenue from operations stood at ₹26,700 crore in Q3FY23 up by 19.5% from ₹22,331 crore in Q3 of FY22. Compared to September 2022 quarter, the company's revenue recorded 8.2% growth. In terms of constant currency, HCL Tech posted revenue growth of 5% QoQ and 13.1% YoY. Its Services Revenue (ITBS and ERS) is up 2.2% QoQ and 15.4% YoY in constant currency.
HCL Tech expects revenue growth to be in the range of 13.5% to 14% YoY in constant currency for FY23. While services revenue is factored to be around 16% to 16.5% YoY, and EBIT margin guidance is narrowed to 18% and 18.5% for the fiscal.
On BSE, HCL Tech shares closed at ₹1,071.90 apiece up by 1.62%. The company's market cap is nearly ₹2.91 lakh crore.
