140% Dividend: Small Cap IT Stock Up 570% In 5 Years Turns Ex-Dividend Today; Check Details

January 27 (Saturday) is an important day for shareholders of small-cap IT stock Mastek Ltd as the stock has turned ex-dividend today. Shares of Mastek Ltd last closed 2.47% higher at Rs 2750.65 per share. The Board of Directors declared an interim dividend of Rs. 7 (Rupees Seven) (i.e.140%) per Equity Share of the Company for the financial Year 2023-24. The company fixed January 27, 2024, as the record date to ascertain the eligibility of Shareholders for payment of Interim Dividend. Mastek Ltd shares have gained 30.87% in the last six months. As of Jan 27, the company has a market capitalization of Rs 8,437.53 crore.

Recently, the company's Board of Directors also approved in principle to evaluate and incorporate a subsidiary in Riyadh, Saudi Arabia, subject to statutory approvals.

Mastek Ltd Dividend:

In an exchange filing on January 18, 2024, the company said, "The Board of Directors have declared an interim dividend of Rs. 7 (Rupees Seven) (i.e.140%) per Equity Share of the Company for the financial Year 2023-24. The said interim dividend shall be paid within 30 days to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on the "Record Date".

The record date to ascertain the eligibility of shareholders for payment of said Interim Dividend was fixed for January 27, 2024.

Mastek Ltd. dividend history:

Mastek Ltd. has declared 39 dividends since Aug. 28, 2000.

In the past 12 months, Mastek Ltd. has declared an equity dividend amounting to Rs 26.00 per share. According to Trendlyne data, at the share price of Rs 2748.50, Mastek Ltd.'s dividend yield is 0.95%.

Mastek Ltd Q3FY24 Results:

In its Q3 FY24 results announced on 18 Jan 2024, the company reported a net income of Rs 787.6 Cr, up by 18.5% YoY compared to Rs 664.7 Cr reported in the same quarter of last fiscal. The company's revenue from operations grew 19.1% YoY at Rs 784.3 Cr during the quarter. The IT Company's operating EBITDA reached Rs 133.5 Cr in Q3FY24, up up by 17.4% YoY. Its net profit reached Rs 77.7 Cr compared to Rs 67.1 Cr in the corresponding quarter of the previous fiscal, representing a growth of 15.8%.

Mastek Ltd share price performance:

The company has a 52 Wk High and 52 Wk low of Rs 3,066.10 and Rs 1,475.45 respectively. In the last three months, Mastek shares have gained 26.43%. The last 1-year, 3-year, and 5-year returns from shares of Mastek Ltd have increased 67.27%, 145.54%, and 570.15% respectively.

About Mastek ltd:

Mastek is an enterprise digital & cloud transformation specialist that engineers excellence for customers across 40 countries, including the UK, Europe, US, the Middle East, Asia Pacific, and India. The company help enterprises navigate the digital landscape and stay competitive by unlocking the power of data, modernising applications, and accelerating digital advantage for its customers.