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Three companies have set their record deadlines this week to determine whether members are eligible for interim and special dividend payments.
The dividend will be paid to all shareholders whose names are recorded in the company's shareholder records as of the end of the record date.
Dividend payments to shareholders on a recurring basis are known as interim dividends. Interim dividends typically aren't as large as dividend payments made after the end of financial year. Generally, when quarterly earnings results are reported, these payments are announced.
On the other side, a one-time payment of company assets, typically in the form of cash, to shareholders is known as a special dividend. The majority of special dividends are associated with a specific occasion and are usually larger than the regular dividends paid to shareholders.
Tata Consultancy Services Ltd (TCS), Mumbai-headquartered multinational information technology (IT) services and consulting company, has fixed Tuesday, January 17 as the record date for the purpose of determining the shareholders eligible for interim and special dividend.
According to an exchange filing, the board of directors of the company declared a third interim dividend of ₹8, and a special dividend of ₹67 per equity share of Re 1 each of the company.
The third interim dividend and the special dividend shall be paid on Friday, February 3, to the equity shareholders of the company.
According to trendlyne data, the company has declared 78 dividends since October 28, 2004. In the past 12 months, the company has declared an equity dividend amounting to ₹45 per share.
It results in a dividend yield of 1.33%, from Friday's closing share price of ₹3,374.55. Shares of TCS will trade ex-dividend on Monday, 16 January.
Another technology major, HCL Technologies Ltd has fixed record date of Friday, January 20, for the payment of the aforesaid interim dividend, and the payment date of the said interim dividend shall be made on Wednesday, February 1.
As per company's exchange filing, the board of directors declared an interim dividend of ₹10 per equity share of ₹2 each of the Company for the Financial Year 2022-23.
According to trendlyne data, the company has declared 84 dividends since September 25, 2000. In the past 12 months, the company has declared an equity dividend amounting to ₹48 per share.
It results in a dividend yield of 4.45%, from Friday's closing share price of ₹1,077.80. Shares of HCL Technologies will trade ex-dividend on Thursday, 19 January.
Small cap company, Shradha Infraprojects Ltd has fixed Saturday, 21 January as the record date for the purpose of determining entitlement of the members for interim dividend.
According to company's exchange filing, the company has considered and declared the payment of interim dividend of ₹2 per fully paid-up equity share of ₹10 each for the financial year ended March 31, 2023.
Shares of Shradha Infraprojects will trade ex-dividend on Friday, 20 January.