Tech Mahindra Ltd, India's fifth-largest IT services player has grown rapidly over the years. In FY22 results the company clocked strong revenue growth performance led by the communication, media & entertainment (CME) segment, technology and BFSI vertical. The company is well-placed to deliver strong revenue growth in the next few years given strong deal wins, active participation in the transformation activities within the telecom ecosystem and strong demand for both BPS and XDS practices, according to the brokerage firm. The company also maintained a good dividend history since 2007. Check out other details about the company including the dividends:
Tech Mahindra Dividend History
Tech Mahindra Ltd has agood track record of dividend payout for the past 16 Years. The Company declared its first dividend (Interim) in 2007. Since 2007, the company has declared 23 Dividends. These 23 declared dividend includes 5 Special dividends, 14 Final dividends, and 4 interim dividends, including these two recent declared dividends. This indicates, that the company maintains a good dividend payout, also, the company's dividend payout history is intact.
300% Final & 300% Special Dividend, and the Board Meeting
Tech Mahindra Ltd's board of directors in its meeting held on 13" May 2022 has declared an equity Final & Special Dividend of 600% amounting to Rs 30 per share in its meeting this year. The final dividend comprises 300% i.e. Rs 15 per share, and the special dividend comprises 300% i.e. Rs 15 per share.
The company in its filing to BSE has stated, "The Board of Directors have recommended a Final dividend of Rs. 15/- per share and a special dividend of Rs 15/- per share on par value of Rs.5/- (600%) for the financial year ended 31st March, 2022, subject to approval from the members of the Company at the forthcoming Annual General Meeting. The Final dividend, if approved, will be paid by 9 August, 2022. This dividend is in addition to Special Dividend of Rs.15/- per share paid as interim dividend in November 2021. The total dividend for FY 2021-22 will be Rs. 45/- per share on par value of Rs.5/- (900%)."
Ex-Dividend- Both the declared dividends are turning ex-dividend on 21st July 2022. The record date is yet to announce.
Tech Mahindra FY22 Results
Tech Mahindra Ltd reported a net profit of Rs 1,506 crore for the fourth quarter of FY22, up 39.2 per cent year-on-year and was up 10 per cent sequentially. Revenue buoyed by growth in both its telecom and enterprises segment was up 24.5% y-o-y at Rs 12,116 crore up 5.8% sequentially.
Tech Mahindra Stock Outlook
The current market price of the Tech Mahindra is Rs 1,020.70 per share at the time of writing the story. The 52-week low is Rs 943.70 per share and the 52-week high is Rs 1,838 per share. The market capitalization is Rs 99,195.04 crore. The PE ratio is 17.82. The PB ratio is 3.57. The EPS-TTM is Rs 57.27. The stock has a 7.64% negative return in one year. It gave a 44.45% positive return in 3 years and a massive 160.22% positive return in five years. The business has been utilising its capital to make money efficiently. Brokers have improved their stock's target price recommendations.
About -Tech Mahindra
Tech Mahindra is an Indian multinational information technology services and consulting company. Part of the Mahindra Group, the company is headquartered in Pune. Tech Mahindra Ltd provides a comprehensive range of IT services, including IT-enabled service, application development and maintenance, consulting and enterprise business solutions, etc. to a diversified base of corporate customers in a wide range of industries.
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