HCL Tech dividend 2023: Shares of IT major HCL Technologies turned ex-dividend on Thursday. The scrip opened lower more than 1 per cent at Rs 1102.35 apiece on NSE. HCL Tech, while releasing its third quarter result for the Financial Year 2022-23, declared to pay an interim dividend.
The record date for the dividend is Friday, January 20. The dividend would be paid to those shareholders, whose names will appear on the register of members of the company or in the records of the depositories, as beneficial owners of the shares, on Friday. The dividend will be paid to eligible shareholders on February 1. The IT major had announced Rs 10 dividend each in the last two quarters.
HCL Tech has announced to pay a whopping 500 per cent interim dividend to its investors per equity share, translating into Rs 10. The face value of each share of HCL Tech is Rs 2.
AceEquity suggests HCL Tech’s dividend yield stood at 3.78 per cent as of Tueday’s close, which was highest among peers. Infosys’ dividend yield stood at 2.01 per cent, TCS’ 1.27 per cent and Wipro’s at 1.51 per cent.
For FY22, HCL Tech paid a total of Rs 42 per share dividend (yield at 3.61 per cent), which amounted to Rs 11,391 crore. Among peers, TCS declared a total dividend of Rs 43 per share (yield 1.15 per cent) for FY22, totalling Rs 7,686 crore. Wipro declared Rs 6 per share in dividend for FY22, with dividend amount standing at Rs 3,289 crore as per AceEquity. Its dividend yield stood at 1.01 per cent. Infosys’ Rs 31 per share (yield 1.63 per cent), totalling Rs 6,309 crore, as per AceEquity.
HCL Tech Q3 Results
HCL Tech reported a 19 per cent increase in the consolidated net income to Rs 4,096 crore for the third quarter that ended December 31, 2022, driven by growth in services revenue. It had posted a net income of Rs 3,442 crore a year ago. The consolidated revenue grew by 19.56 per cent to Rs 26,700 crore during the reported quarter from Rs 22,331 crore in the December 2021 quarter.
It narrowed current fiscal growth guidance in the range of 13.5-14 per cent for the overall revenue in constant currency terms and margin to 18-18.5 per cent. The company had increased guidance in the last quarter from 12 to 14 per cent to 13.5-14.5 per cent.
Meanwhile, the company won 17 large deals during the December 2022 quarter, including 7 in services and 10 in the software segment. The new deal wins’ total contract value during the quarter increased by 10 per cent year-on-year to $2,347 million.
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