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On June 2, the Infosys share opened at a percent lower as it was trading at the ex-dividend. For a better understanding, the ex-dividend date is the day when the company's stock turns ex-dividend, which means that starting on that day, the stock does not have the value associated with its upcoming dividend payment.
Typically the ex-dividend date is set two business days before the record date. As a general rule, to be entitled to receive the dividend amount, you must own the company's shares before the ex-dividend date. In the last quarter of 2023, Infosys declared a dividend of Rs. 17.50 per share. This took the total dividend payout to Rs. 34 per share for FY23.
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In terms of value, the total dividend reached Rs.14,200 crore for FY23. Looking into the statistics of the Murthy family after the ex-dividend date, Akshata Murthy, wife of Britain Prime Minister Rishi Sunak, would get Rs. 132.4 crores after taking into account the interim dividend of Rs. 16.50 per share. Further, she holds around 3.89 crore shares of Infosys.
Moving ahead, Narayana Murthy, having 1.6 crore shares, his share of dividend payout FY23 would stand at Rs. 53.2 crores. While his wife will get Rs. 110 crore, and his son will receive Rs. 194 crore with six crore shares in hand.
With quarterly results last month, Infosys is said to have reported a 7.8% rise in the yearly profit while the revenue saw a YoY growth of 16%
In the coming year, the company expects to increase its revenue by between 4% and 7%. The Infosys shares closed at Rs.1,299.70 today at a low of 1.5%.
- Charu Kapoor
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