LTTS Dividend: Top IT Firm Sets June 14 As Record Date For 1650% Dividend, Eligible?

L&T Technology Services Ltd (LTTS) today fixed June 14, 2024 as the record date for deciding eligibility of members to receive final dividend for FY 2023-24. Current market price of LTTS stock on BSE is Rs 4642.15 per share with intraday gain of 0.91%. L&T Technology Services share offered 19.74% return in last 1-year and declined 12% in last 3-months. Life Insurance Corporation Of India (LIC) has 6.64% stake in L&T Technology Services Ltd with 7,018,547 shares of the company. More details below:

L&T Technology Services Ltd Dividend: The BSE filing of the IT company dated April 25 stated, "Further, we would like to inform that the Board of Directors at their meeting held today, have recommended a final dividend of 1650 % i.e. Rs. 33/- per equity share of face value of Rs 2.00/- each, subject to approval of the shareholders of the Company, which if approved, shall be paid/dispatched within thirty days from the conclusion of the Annual General Meeting of the Company. The Record date for the purpose of final dividend shall be intimated later."

L&T Technology Services Q4: The company declared its net profit for the Q4 ended March 31, 2024 to Rs 341 crore, up marginally by 1.24%. The company's revenue from operations zoomed 4.8% to Rs 2537.5 crore as compared to Rs 2,421.8 crore in the corresponding quarter of last year. The EBIT of the company at the operating level surged 2.9% to Rs 428.2 crore for the fourth quarter as against Rs 416.2 crore declared in the similar quarter of last year. EBIT margin of LTTS stood at 16.9% for the quarter under review as against 17.2% in the similar quarter of last year. During the quarter, LTTS declared that it inked a $100-million, a $30-million and two deals worth $20 million and $10 million each.

L&T Technology Services Share Performance: The 52-week high price of LTTS share on BSE is Rs 5884.95 per share (as on 08/04/2024) and 52-week low price is Rs 3756.80 per share (as on 26/06/2023), respectively. The company has a market capitalisation of Rs 49,094.70 crore. LTTS Shares surged 3.53% in last 1-week, fell 10% year-to-date, soared 35% in last 2-years, and gave return of 72% in last 3-years. In last 5-years, LTTS shares zoomed 163%.

LTTS Dividend History: L&T Technology Services declared 16 dividends since November 21, 2016. In last 12 months, L&T Technology Services Ltd announced an equity dividend of Rs 47.00 per share. At the current share price of Rs 4642.15 apiece, L&T Technology Services Ltd offers a dividend yield is 1.01%. Number of FII/FPI investors increased from 217 to 220 in Mar 2024 quarter. Mutual Funds have increased holdings from 2.73% to 2.85% in Mar 2024 quarter.

How To Be Eligible For LTTS Dividend? Record date remains crucial role in determining eligibility of shareholders for receiving dividend. Individuals whose name appear in company's shareholders record as on the record date will become eligible to earn dividend announced by the company. Record date is the particular day on which a company confirms the list of shareholders eligible for its dividend distribution. LTTS Set June 14 as the record date for final dividend.

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