Infosys Share Price: Shares of Infosys were trading ex-dividend on Friday. While announcing its March quarter results, the company’s board had declared a final dividend of Rs 17.50 per equity share for financial year 2022-23. This was in addition to an interim dividend of Rs 16.50 per share that the Bengaluru-headquartered company has already paid earlier.
The Board of Infosys has recommended a final dividend of Rs 17.50 per equity share for the financial year ended March 31. The record date for the said dividend payment is June 2. The dividend will be paid on July 3.
The final dividend will be paid to the shareholders of the company whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on record date.
Shares of companies trade ex-dividend on the day of record date or a day before. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.
In the past 12 months, Infosys has declared an equity dividend amounting to Rs 16.50 per share, which results in a dividend yield of 1.25%.
The stock of Infosys closed 0.17 percent higher at Rs 1,320.55 apiece in Thursday’s (June 1) trade. Infosys shares gained 3 percent in the last one month, while it fell 13 percent on a year-to-date basis.
How Much UK First Lady Akshata Murthy and Murthy Family Earn As Dividend?
The Murthy family, including Infosys Co-Founder Narayana Murthy, his wife Sudha N Murty, son Rohan Murty and daughter Akshata Murty, would be among the prime beneficiaries of the dividend payment by the IT major.
NR Narayana Murthy (NRN) owned 1,66,45,638 shares or 0.46 per cent stake in Infosys, as per the March quarter shareholding pattern. The dividend of Rs 17.50 per share would add Rs 29.13 crore to NRN’s wealth. NRN’s wife Sudha N Murty would get Rs 60.46 crore in dividends on her 0.95 per cent (3,45,50,626 shares) stake. Rohan Murty, who owned 6,08,12,892 shares, or 1.67 per cent, stake in Infosys, would fetch Rs 106.42 crore in dividend income. Daughter Akshata Murty would earn a dividend of Rs 68.17 crore on 3,89,57,096 shares or 1.07 per cent stake she held as one of the Infosys promoters, as of March 31, 2023.
Akshata Murty had earned Rs 126.61 crore in dividend income in 2022 from her shareholding in Infosys.
The actual dividend will be paid on July 3.
Infosys paid a total of Rs 6,309 crore dividends in FY22 and Rs 5,112 crore dividends in FY21. This is against Rs 11,391 crore dividends by HCL Technologies and Rs 7,686 crore dividend by TCS in FY22. TCS paid Rs 8,510 crore in dividends and HCL Tech Rs 2,714 crore in FY21.
According to an Infosys filings, the Murty family owns 4.15 percent (Narayana Murthy holds 0.46 per cent stake, his wife Sudha 0.95 per cent, son Rohan 1.67 per cent and daughter Akshata 1.07 percent). Other promoters include Co-Founder S Gopalakrishnan, Nandan M. Nilekani and S.D. Shibulal and their families.
Aparna DebAparna Deb is a Subeditor and writes for the business vertical of News18.com. Among other things, financial market, economy and policies interest her …Read More