HCL Tech fixes record date for third interim dividend of FY23, to announce Q2 result on 12 Oct indiabusinessport.com

HCL Technologies will consider the payment of the third interim dividend for the financial year FY23 on 12th October. The tech giant has also fixed record date for determining eligible shareholders for the interim dividend. The company will also announce its financial performance for the second quarter ending September 30, 2022 period.

In its regulatory filing on Thursday, HCL Tech said, “We would like to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, October 12, 2022, to consider:

– Unaudited financial results of the company for the quarter and half-year ended September 30, 2022.

– Payment of 3rd Interim dividend for the financial year 2022-23.”

Further, HCL Tech said, “the record date for determining the entitlement of the shareholders for the payment of the aforesaid interim dividend shall be October 20, 2022, subject to the approval of the interim dividend by the Board of Directors.”

Earlier, for the fiscal FY23, HCL Tech had paid a first interim dividend of 18 per share and a second interim dividend of 10 per equity share.

In April to June 2022 quarter, the IT services provider posted a consolidated net profit of 3,283 crore down by 8.6% qoq but slightly up 2.4% on a year-on-year basis. Consolidated revenue came in at 23,464 crore higher by 16.9% yoy and 3.8% qoq. The constant currency revenue growth stood at 2.7% qoq and 15.6% yoy in the Q1 of this fiscal. EBITDA margin was at 21.2%, while EBIT margin came in at 17% in the first quarter of FY23.

As of March 30, 2022, HCL Tech paid a total dividend of 42 per equity share aggregating up to a massive 11,392 crore.

In its annual report FY22, HCL Tech said that the Company has been declaring quarterly dividends for the last 19 years. The company determines the capital requirement based on annual operating plans and long-term and other strategic investment plans. The funding requirements have been generally met through operating cash flows generated.

For the year ended March 31, 2022, HCL Tech’s net cash used in financing activities stood at 14,508 crore – primarily comprising payment of dividends of 11,391 crore; payment of lease liabilities including interest of 1,067 crore; acquisition of treasury shares of 804 crore; and acquisition of a non-controlling interest in the Actian corporation for 746 crore.

On BSE, HCL Tech shares trade marginally up at 923.40 apiece at around 2.56 pm. The shares have touched an intraday high and low of 930.65 apiece and 917 apiece respectively.

The company’s market valuation currently is at 2,50,579.83 crore.

On the previous day, HCL Tech shares stood at 922.80 apiece.

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