Multibagger IT Software Stock Paying 3000% Final Dividend Will Turn Ex-Dividend Next Week

Global technology consulting and digital solutions Company Larsen & Toubro Infotech Ltd. has already declared a equity dividend of 3000% amounting to Rs 30 per share on April 19, 2022.

The board of directors of the company stated in their BSE filing, "The Board of Directors at their meeting held today, have recommended a final dividend of Rs. 30/- per equity share of Re.1.00/- each, for approval of the shareholders. The ex-dividend date is June 30 i.e. on Thursday. The company has also announced the record date i.e. July 1, 2022 that falls on Friday.

Dividend History: The company has a strong dividend track record and regularly declared dividend in the last 5 years without fail. The company has a dividend yield of 1.36% if the current share price of 4033 is taken into consideration. For the year ending March 2022, the company declared an equity dividend of 5500% amounting to Rs 55 per share.

Last year on October 7, 2021, the company declared an interim dividend of 1500% amounting to Rs 15 per share along with a special dividend of 1000% amounting to Rs 10 per share.

Multibagger Return: The stock has given a 414.61% return in the last 5 years and 0.59% return in one month.

Stock Outlook: The current market price of the stock is Rs 4033 apiece and its 52-week high is Rs 7588 apiece and 52-week low is Rs 3733 apiece. The company has been effectively using its capital generate profit. Recently, brokers have also upgraded their recommendation for the stock.

Q4 Report: L&T Infotech declared a consolidated net profit of ₹637 crore for the January-March period, up 17% when compared with ₹545 crore in the similar period of previous fiscal.

LTI is a global technology consulting and digital solutions Company helping more than 485 clients succeed in a converging world. With operations in 33 countries, it goes the extra mile for its clients and accelerate their digital transformation journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, its unique heritage gives unrivalled real-world expertise to solve the most complex challenges of enterprises across all industries, according to its website.