Home / Markets / Stock Markets /  IT giant HCL Tech sets record date for interim dividend for FY 2023-24

IT giant HCL Technologies surged on Friday after the Board declared record date for interim dividend for FY 2023-24. The company is a large-cap company and recorded a market cap of 300,796 Cr on Friday's closing. HCL Tech has declared record date for interim dividend for FY 2023-24 and Board meeting is scheduled to be held on April 19 & 20, 2023 to consider financial results for the financial year ending March 31, 2023.

HCL Technologies said in a stock exchange filing that “We would like to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on April 19 & 20, 2023 to consider amongst others: 1) Audited Financial Results of the Company for the financial year ending March 31, 2023. 2) Payment of Interim dividend for the financial year 2023-24. The items relating to financial results and payment of Interim dividend shall be considered by the Board on April 20, 2023. The Record Date for determining the entitlement of the shareholders for the payment of the aforesaid interim dividend shall be April 28, 2023, subject to the approval of the interim dividend by the Board of Directors."

HCL Technologies has announced an equity dividend of 2100.00% at face value of 2, or 42 per share, for the fiscal year that ended in March 2022. The dividend yield at the current share price of 1,111.90 is 3.77%. 84 dividends have been issued by HCL Technologies Ltd. since September 25, 2000, according to Trendlyne statistics, and in the last 12 months, the company has declared an equity dividend of 48.00 per share. This generates a dividend yield of 4.31% at the current share price of 1,111.90.

HCL Technologies, a leader in IT services, reported a 19% growth in consolidated net profit for the December quarter (Q3FY23), coming in at 4,096 crore over 3,442 crore in the same quarter (Q3FY22) of the previous year. The company's revenue from operations grew 19.5% to 26,700 crore during Q3FY23 compared to 22,331 crore reported during Q3FY22.

The shares of HCL Technologies closed on Friday on the NSE at 1,111.9 apiece, up by 3.68% from the previous close of 1,072.40. The stock recorded a total volume of 53,50,523 shares compared to the 20-Day average volume of 32,68,889 shares. In the last 1 year, the stock has fallen 4.81% and on a YTD basis it has gained 6.97% so far in 2023. The stock touched a 52-week-high of 1,215.00 on (17-Mar-2022) and a 52-week-low of 877.35 on (15-Jul-2022). During Q3FY23, the company recorded a promoter shareholding of 60.72%, FIIs stake of 18.29%, DIIs stake of 15.85%, Government stake of 0.02%, public stake of 4.89% and other stake of 0.23%.

Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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