Mindtree's special dividend may cost firm Rs 530 cr ahead of L&T takeover

Ahead of a potential takeover of the company by L&T, Mindtree's board Wednesday proposed to pay a special dividend to its shareholders, including promoters, that along with regualr dividend and tax components would strip the mid-sized IT firm of about Rs 530 crore.

The company has declared an interim dividend of Rs 3 per share that will be paid before May 10 and also pay Rs 4 a share in final dividend, besides Rs 20 in special dividend -- a proposal subject to shareholders' nod at the firm's annual general meeting (AGM) in June or July.

"Given the company has about 16