Tech Mahindra to consider interim dividend for FY23 in board meeting

IT company Tech Mahindra's board of directors are scheduled to meet next week on November 1 to consider the proposal for interim dividend's payment for the current fiscal year. The company has fixed November 10 as the record date for determining the members, who will be entitled to receive the interim dividend, if it gets approved by the board.

According to a report published in LiveMint, Tech Mahindra's board of directors will also determine the financial performance of the second quarter ending September 30 for the current fiscal year. 

The company, in its exchange filing last week, informed that the board of directors will consider a proposal for payment of interim dividend for the financial year 2022-2023, during its scheduled meeting on October 31st and November 1. It also added that the trading window of the company is closed from October 1 and will open 48 hours after the declaration of the financial results for the September quarter.

While Tech Mahindra's peers TCS, Wipro, Infosys, Mindtree, and HCL Tech have already declared their earnings for the second quarter of the current fiscal year, all eyes are now on Tech Mahindra's financial results.

Tech Mahindra paid a 900 per cent dividend to its shareholders in the previous financial year. The company in the past 12 months, declared an equity dividend, which amounted to Rs 45 per share.