HCL Tech<\/a> declared an interim dividend of Rs 10 per equity share of Rs 2 for the financial year 2022-23. The company has fixed the record date as January 20 for the payment of the interim dividend. The dividend will be paid to eligible shareholders on February 1.
HCL Tech has paid a dividend for 80 consecutive quarters over 20 years. In the past 12 months, the IT company declared a dividend of Rs 48 per share, according to data from Trendlyne<\/a>.
Going by the dividends announced in the past 12 months, HCL Tech's dividend yield stood at 4.39% at the current share price, while TCS<\/a> has a dividend yield of 3.6%.
When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. Usually, an ex-dividend date is set one or two days before the record date.
On Monday, HCL Tech's shares closed 1.48% higher at Rs 1,093.80 on NSE. The company's stock is up over 5% so far this year on a year-to-date basis. However, in the past one year, the IT company's stock has dropped about 13%.
HCL Tech clocked a 19% growth in net profit at Rs 4,096 crore for the December quarter, largely driven by higher revenues. The revenue from operations during the quarter grew 20% YoY to Rs 26,700 crore.
The revenue rose 13% in constant currency terms, while the same from the services business grew 15.4%. The company has garnered over 17 large deals and recorded over $2 billion in new deals during the quarter.
However, the company lowered its revenue guidance for the current financial year to 13.5-14% as against 13.5-14.5% earlier.
Even though the company's attrition has slowed down on a 12-month trailing basis, the net employee addition has also dropped during the third quarter. HCL Tech added only about 2,900 employees, compared with the addition of over 8,000 employees in the previous quarter.
HCL Technologies is the third largest IT services company in India after Tata Consultancy Services<\/a> (TCS) and Infosys<\/a>. The company has clients across all major verticals, ranging from financial services to manufacturing to telecom and media.
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