Tech Mahindra announces 360% special dividend; record date fixed

IT major Tech Mahindra, while announcing its Q2 results on Tuesday, declared a special interim dividend of 360% that amounts to Rs 18 per share on a face value of Rs 5.

The company has fixed November 10 as the record date for the dividend. So, investors holding the stock of Tech Mahindra as of the record date shall be eligible for the aforesaid dividend pay-out.

Furthermore, the company has also specified November 24 as the dividend payment date i.e. the date when the dividend will be paid to eligible investors.


According to Trendlyne data, the company has since March 2007 declared a total of 24 dividends.

For FY22, the company declared an equity dividend of 900%, amounting to Rs 45 per share. At the current share price of Rs 1072.50, this results in a dividend yield of 4.2%.

The company reported a 4% year-on-year (YoY) fall in consolidated net profit for the quarter ended September 2022 to Rs 1,285 crore.

Ahead of its results, the largecap stock settled at Rs 1070.90.