Rs 12/Share Dividend: HCL Tech Recommends 3rd Interim Dividend; Know Ex-Dividend, Record, Payment Dates

HCL Technologies has declared third interim dividend of Rs 12 per share for the current financial year 2022-23. It has already set October 20th as the record date to determine eligible shareholders for the third interim dividend payou

The announcement comes during the time HCL Tech declared its September quarterly earnings for FY24.

In its regulatory filing, HCL Tech said, the Record Date for determining the entitlement of the shareholders for the payment of the aforesaid interim dividend shall be October 20, 2023, subject to the approval of the interim dividend by the Board of Directors.

The IT player has already paid a first and second interim dividend of Rs 18 per share (900%) and Rs 10 per share (500%) for the financial year 2023-24 so far. During the financial year FY23, the company paid a total dividend of 2400% aggregating to Rs 48 per share.

In general terms, dividends are distributed also in a certain proportion by listed companies from their net profits earned in a respective financial year. The record date is proposed by the listed company's board of directors to determine the name of the eligible shareholders for dividends. As per BSE FAQs, to be eligible to receive dividends, investors have to have shares in the Demat account by record date. Meanwhile, the ex-dividend date is the day when the price of the equity share of the listed company gets adjusted for the dividend payout.