Dividend Stock: HCL Technologies To Trade Ex-Dividend Soon; Check Record Date, Dividend Payment Date Here

Shares of IT behemoth HCL Technologies traded at a new 52-week high value of 1617.65 in the early morning trade on Monday (January 15, 2024). HCL Technologies shares grabbed attention as the stock will trade ex-dividend on January 20. The share price of HCL Technologies Ltd was spotted trading 2.46% higher at Rs 1581 per share at 11:06 am IST.

Recently, in its Q3FY24 results, HCL Tech declared rewards for its investors in the form of dividend payments. In its Q3 FY24 results announced on Jan 12, the tech major announced topline growth of 6.54% & the revenue increased by 6.7% QoQ at Rs 28,446 crore.

HCL Tech is one of the high dividend yield stocks in the IT sector followed by TCS. The Board of Directors declared an Interim Dividend of Rs.12/- per equity share of Rs.2/- each of the Company for the Financial Year 2023-24. The Record date of for the payment of the aforesaid interim dividend has been fixed as January 20, 2024. Meanwhile, the company has set January 31, 2024, as the payment date of the said interim dividend.

This will also be HCL's 84th consecutive quarterly dividend payout. The HCL Tech shareholders who will hold HCL Tech shares in their demat account by the end of January 20th will be eligible to receive the dividend benefit. Notably, in FY24, so far, HCL Tech has already paid three interim dividends. The first interim dividend was 900% amounting to Rs 18 per share, followed by a second interim dividend of 500% aggregating to Rs 10 per share, and a third interim dividend of 600% valuing to Rs 12 per share.

HCL Tech Dividend:

In an exchange filing on January 12, the company said: "The Board of Directors has declared an Interim Dividend of Rs.12/- per equity share of Rs.2/- each of the Company for the Financial Year 2023-24. The Record date of January 20, 2024 fixed for the payment of the aforesaid interim dividend has been confirmed by the Board of Directors. The payment date of the said interim dividend shall be January 31, 2024."

HCL Tech share price performance:

In the last six months, HCL Tech shares have gained 37.34%, while the stock is up 25.96% in the last three months. In the last one year returns from shares of HCL Technology Ltd have gained 46.68%. The stock's last two-year and last three years performance is up 18.21% and 59.81% respectively.

HCL Q3FY24 results:

For the quarter ended December 31, 2023, the company reported a 6% year-on-year (YoY) rise in net profit at Rs 4,350 crore. The consolidated revenue of HCL Tech rose 6.5% to Rs 28,446 crore during the reported quarter, compared to Rs 26,700 crore in the December 2022 quarter. During this period, the firm's services revenue exhibited substantial growth, increasing by 3.1% quarter-on-quarter and 4.2% year-on-year.