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HCL Tech Q3 dividend at Rs 10/share: This is IT firm's 80th payout in a row!

HCL Tech Q3 dividend at Rs 10/share: This is IT firm's 80th payout in a row!

HCL Tech said the record date for the payment of the interim dividend has been fixed at January 20. The payment date is February 1.

HCL Tech Q3 dividend at Rs 10/share: This is IT firm's 80th payout in a row! HCL Tech Q3 dividend at Rs 10/share: This is IT firm's 80th payout in a row!

HCL Technologies (HCL Tech) on Thursday announced an interim dividend of Rs 10 per share for FY23, which the IT major said was its 80th (20 years) straight payout in a row. HCL Tech had announced interim dividends of Rs 10 each in the previous two quarters.

HCL Tech said the record date for the payment of the interim dividend has been fixed as January 20. The payment date is February 1.

The IT major paid Rs 11,389 crore in total dividend for FY22. In the December quarter, it paid dividend worth Rs 2,706 crore. In the Calendar 2022, HCL Tech paid a total dividend of Rs 48 per share. In 2021, it paid a total dividend of Rs 26 against Rs 10 per share in 2020.

Earlier this week, larger peer TCS announced an interim dividend of Rs 8 per share and a special dividend of Rs 67 per share.

The C Vijayakumar-led company reported a 19 per cent year-on-year (YoY) rise in net profit at Rs 4,096 crore for the December quarter compared with Rs 3,442 crore in the same quarter last year.

The IT major said its revenue for the quarter jumped 19.6 per cent YoY to Rs 26,700 crore compared with Rs 22,331 crore in the year-ago quarter. Dollar revenue for the quarter stood at $ 3,244 million, up 5.3 per cent QoQ and 9 per cent YoY Revenues in constant currency terms climbed 5 per cent QoQ and 13.1 per cent YoY.

EBIT margin for the quarter came at 19.6 per cent, up 165 basis points sequentially.

HCL Tech has guided for FY23 revenue growth (constant currency terms) in the 13.5-14.0 per cent range terms. Services revenue CC are expected in the 16-16.5 per cent range. EBIT margin guidance has been narrowed to 18– 18.5 per cent, HCL Tech in a press release.

Also read: Infosys vs HCL Tech: Which IT firm will report better Q3 results today?

Also read: HCL Tech Q3 results: Profit rises 19% to Rs 4,096 crore, Rs 10 dividend announced

Published on: Jan 12, 2023, 6:27 PM IST
Posted by: Tarab Zaidi, Jan 12, 2023, 6:21 PM IST