interim dividend

The record date fixed by the company for determining the members is 10 November. These members will be entitled to receive the interim dividend, subject to board approval. According to a release, the trading window of the company is closed from October 1 and will open 48 hours once the financial results for the September quarter are declared

The well-known IT company Tech Mahindra’s board of directors will be meeting next week on 1 November to discuss the proposal for interim dividend’s payment for the current fiscal year.

The record date fixed by the company for determining the members is 10 November. These members will be entitled to receive the interim dividend, subject to board approval.

The Tech Mahindra’s board of directors will also hold discussion on the financial performance of 30 September quarter end for the current fiscal year, according to a report published by a media house.

“…we would like to inform that the Board of Directors will also consider a proposal for payment of interim dividend for the financial year 2022-23, at its meeting scheduled on 31st October and 1st November, 2022,” said the release dated 22 October.

The statement further detailed about, “The payment of Interim Dividend will be considered by the Board and the Company has fixed 10th November, 2022 as the record date for determining the members entitled to receive the Interim dividend, if approved by the Board.”

It also mentioned that the trading window of the company is closed from October 1 and will open 48 hours once the financial results for the September quarter are declared.

People are keen to know the Tech Mahindra’s financial results, meanwhile its competitors being TCS, Wipro, Infosys, Mindtree, and HCL Tech have already declared their earnings for the second quarter of the current fiscal year.

Previous data shows that the company paid a 900 per cent dividend to its shareholders during last financial year. It also declared an equity dividend amounting to Rs 45 per share during last 12 months.