IT Giant HCL Fixes Record Date For 2nd Interim Dividend For FY24

HCL Technologies is a large cap IT company that recorded a market cap of Rs 3,10,361.88 Cr in Thursday's closing session. For the payment of 2nd interim dividend for the financial year 2023-24, the Board of Directors of HCL Technologies has fixed record date in order to determine the eligibility of shareholders for the purpose of the same.

"We would like to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, July 12, 2023 to consider amongst others: 1) Un- audited Financial Results of the Company for quarter ending June 30, 2023. 2) Payment of 2nd Interim dividend for the financial year 2023-24. The Record Date for determining the entitlement of the shareholders for the payment of the aforesaid interim dividend shall be July 20, 2023, subject to the approval of the interim dividend by the Board of Directors," said HCL Technologies in a stock exchange filing.

The Board of Directors declared a first interim dividend of Rs 18 per equity share of the company for the financial year 2023-24 for which the record date was 28-04-2023. HCL Technologies has announced an equity dividend of 3300.00% at a face value of Rs 2, or Rs 66 per share, for the financial year ended March 2023. The dividend yield at the current share price of Rs 1,144.25 is 5.77%. The company has a solid track record of dividend declarations during the past five years. Since September 25, 2000, HCL Technologies Ltd. has issued 85 dividends, according to statistics from Trendlyne. HCL Technologies Ltd. handed out an equity dividend worth Rs. 48.00 per share throughout the course of the last 12 months. This generates a dividend yield at the current share price of Rs 1,144.25 of 4.20%.

HCL Technologies has reported a consolidated net profit of Rs 3,983 crore for the quarter ended March 2023 up by 11% from Rs 3,593 Cr recorded in March 2022 quarter. Revenue from operations grew by 18% to Rs 26,606 crore for the fourth quarter of FY23, compared with Rs 22,597 crore in the same period last year.

On Thursday the shares of HCL Technologies closed on the NSE at Rs 1,144.25 apiece up by 0.74% from the previous close of Rs 1,135.85. The stock touched a 52-week-high of Rs 1,156.65 on (03-Feb-2023) and a 52-week-low of Rs 877.35 on (15-Jul-2022).