Tech Mahindra to consider Interim Dividend

Tech Mahindra, the multinational IT services and consulting company, is set to discuss a proposal for an interim dividend for the financial year 2023-24 in its upcoming board meeting on October 24 and 25. The decision regarding the interim dividend is scheduled to be made on October 25.

This move comes ahead of the company's announcement of its results for the September quarter next week. Tech Mahindra has been consistent in paying dividends, declaring 25 dividends since March 21, 2007. Over the past year, the company has declared an equity dividend of ₹50 per share, resulting in a dividend yield of 4.27% at the current share price of ₹1,172.15.

In the June quarter, Tech Mahindra reported a 38% year-on-year decline in net profit, amounting to Rs 692.5 crore. The company's shares settled at ₹1,169, down 1.52% on Thursday. Over the past 12 months, the stock has yielded returns of 12.23%, slightly outperforming the Nifty50's returns of nearly 12% during the same period.

Currently trading at a discount of 11% from its 52-week high of ₹1,320.00 in September, the stock demonstrates a 1-year beta of 1.1, signifying relatively higher volatility during this period, as per data from Trendlyne.

Top stories
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read . 02 Aug 2024 . 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read . 02 Aug 2024 . 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read . 02 Aug 2024 . 12:36 PM

Related Blogs
blog-logo

Share Market

blog-logo

9 mins read . 11 Oct 2024

Public Sector Undertakings in India

  • 0 people read
blog-logo

Share Market

blog-logo

7 mins read . 11 Oct 2024

How Did Rakesh Jhunjhunwala Become a Billionaire?

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions