Rs 45 DIVIDEND, LTIMindtree Dividend 2024: Shares of the IT giant LTIMindtree are going to trade ex-dividend next week. Earlier this year in April, the Board of Directors of LTIMindtree recommended a final dividend of Rs 45 per equity share of Re 1 each. This is by far the highest dividend declared by the largecap IT company post-listing.
“Board of Directors have recommended a final dividend of Rs 45/- per equity share of Re 1 each, for approval of shareholders at the ensuing Annual General Meeting (‘AGM’),” the company said in an exchange filing.
Interestingly, India’s largest insurer Life Insurance Corporation (LIC) holds 5.12 per cent stakes in LTIMindtree.
Read More: Stanley Lifestyles Eyes ₹537 Crore Via IPO, Issue To Open On June 21
LTIMindtree Dividend Record Date 2024
LTIMindtree’s shares are going to trade ex-dividend on June 19, as per an exchange filing.
“…we wish to inform you that the Record Date for determining entitlement of members to the final dividend for the financial year ended on March 31, 2024, if approved at the AGM, is fixed as Wednesday, June 19, 2024 and shall be paid within 10 days from declaration,” the company said in an exchange filing.
LTIMindtree Dividend Credit Date
LTIMindtree said that it will pay the forthcoming dividend within 10 days of the conclusion of its upcoming annual general meeting (AGM).
“Subject to approval of shareholders, the final dividend will be paid within 10 days from conclusion of the AGM,” the company said.
LTIMindtree will hold its next AGM on Wednesday, June 26.
“The Twenty Eighth (28th) Annual General Meeting (‘AGM’) of LTIMindtree Limited (‘LTIMindtree’) will be held on Wednesday, June 26, 2024 at 12.30 p.m. (IST) through Video Conferencing (‘VC’)/Other Audio Visual Means (‘OAVM’),” said the company.
Read More: Share Market News: 800 Percent Return In 5 Years: Do You Own Shares Of This Toy Manufacturer
LTIMindtree Dividend History, Yield
LTIMindtree has a good dividend track record and has consistently declared dividends for the last 8 years. The last dividend the IT company declared was of Rs 20 (interim) in 2023. Prior to that, the company paid Rs 40 final dividend in the same year.
At the current market price, LTIMindtree’s dividend yield stands at 1.19 per cent.
LTIMindtree Q4 Results 2024
LTIMindtree reported a 1.2 per cent YoY decline in its net profit at Rs 1100 crore. The decline was nearly 6 per cent on a QoQ basis. LTIMindtree’s revenue for the fourth quarter of FY24 stood at Rs 8892 crore, up 2.3 per cent on a YoY basis.
The IT major’s consolidated EBIT came in at Rs 1309 crore versus Rs 1386 crore QoQ.
Read More: Sebi Cancels Registration Of Grovalue Financial Services For Violating Market Norms
LTIMIndtree Share Price History
Shares of LTIMindtree closed 1.90 per cent lower by 0.29 per cent at Rs 5,032.55 apiece on NSE on Friday, June 14. It opened at Rs 5,047.20 per share and touched an intraday high of Rs 5070.20 per share and an intraday low of Rs 4,995.25.
The stock tumbled over 15.5 per cent in the last six months, and delivered just 2.4 per cent return over the past one year.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
