Tech Mahindra To Consider Payment Of Interim Dividend On October 25

Tech Mahindra said on Thursday that the payment of the Interim Dividend will be considered by the Board on October 25, 2023. Today, in an exchange filing, the company said, "We would like to inform that the Board of Directors will also consider a proposal for payment of interim dividend for the financial year 2023-24, at its meeting scheduled on 24th October & 25th October, 2023."

The company had earlier said that the Trading Window of Tech Mahindra will be closed from October 1, 2023, and shall open 48 hours after the declaration of Financial Results for the quarter ended 30th September 2023. The company will announce its results for the September quarter next week.

Today, Tech Mahindra shares closed 1.29% lower at Rs 1170.70 per share. The stock has a 52 Wk High and 52 Wk Low of Rs 1,319.95 and Rs 982.95 respectively. In the last one year the share price of Tech Mahindra has gained 14%, while the stock's year-to-date (YTD) performance is up 15.97%.

The IT services company reported a 38% year-on-year (YoY) decline in net profit at Rs 692.5 crore for the June quarter. During the June quarter, Tech Mahindra experienced a decline in its performance in segments like communications, media and entertainment (CME) and banking, financial services, and insurance.