Rs 15/Sh Dividend Announced: This Top IT Company Fixes Record Date On November 1, 2024; Yied At 2.37%

Leading IT player, Tech Mahindra has announced a big dividend reward for investors on Saturday, October 19, 2024. The dividend payout was approved during its Q2FY25 results announcement which came in better than expected. Tech Mahindra is going to pay dividends up to Rs 15 per share, 300% of the face value.

Tech Mahindra Share Price:

The company declared an interim dividend of Rs 15 per share having a face value of Rs 5 each, which is 300% of the face value.

For the upcoming dividend, Tech Mahindra fixed Friday, 01st November 2024 as the Record date for determining the members entitled to receive the Interim dividend.

The Interim Dividend shall be paid through permitted modes, on or before 17th November 2024, to the equity shareholders of the Company whose names appear in the Register of Members of the Company or list of beneficial owners as at the end of business hours of Friday, 01st November 2024.

In FY24, the company distributed dividends worth 800% worth Rs 40 per share. Currently, it has a dividend yield of 2.37%.

So far, Tech Mahindra has delivered up to 27 dividends since March 2007, as per Trendlyne data. In the last 12 months, the payout was about Rs 40 per share.

Additionally, Tech Mahindra has carried one bonus issue of a 1:1 ratio and a stock split of a 1:2 ratio in March 2015.

Tech Mahindra Results:

During the second quarter of FY25, the company's consolidated net profit skyrocketed by a whopping 153.1% year-on-year to Rs 1,250 crore. Sequentially, the PAT jumped by 46.8%. In the dollar terms, revenue came in at $ 1,589 million, registering growth of 2.2% YoY and 1.9% QoQ. Revenue grew by 0.7% QoQ, up by 1.2% YoY in constant currency terms.

On BSE, Tech Mahindra's share price stood at Rs 1688 apiece, down by 0.7% on Friday, with a market cap of Rs 1,65,145.40 crore.

Currently, data from BSE showed that Tech Mahindra has a price-to-equity ratio of 75.27x, while return on equity is at 9.47%. The stock's 52-week high and low is at Rs 1,709 apiece and Rs 1,089 apiece respectively. YTD, Tech Mahindra shares jumped by 30%.