Infosys, Backed by Rishi Sunak's Wife Akshata Murthy, Trades Ex-Dividend Today; Key Details

Dividend-paying stock: Bengaluru-headquartered Infosys Ltd., backed by Rishi Sunak’s, the new British Prime Minister, wife Akshata Murty is trading ex-dividend today.

Infosys Ltd. has declared an interim dividend of Rs 16.5 per share, payable on November 10, for investors on record as of October 28. The Infosys (INFY) board made the announcement on October 13.

Informing Indian stock market indices about interim dividend record date, Infosys Ltd said, “We wish to inform you that the Board of Directors (“Board”) of Infosys Limited ( “Company”) at its meeting declared an interim dividend of Rs 16.50/- per equity share. Fixed October 28, 2022 as record date for interim dividend and November 10, 2022 as payout date.”

What is an ex-dividend?

Ex-dividend refers to a stock that trades without the value of the next dividend payment. A stock is ex-dividend if it trades on or after the ex-dividend date. If you buy a stock after it has gone ex-dividend, you will own the stock but will not get the next dividend payment for that stock. Instead, the payment will go to the person who sold you the stock.

Akshata Murty’s Stake in Infosys

Rishi Sunak and his family are the richest ever occupants of Number 10 Downing Street, largely due to the fortune the first lady Akshata Murty inherits from her billionaire father Narayana Murthy.

Akshata Murty is among one of the promoters of Infosys. She owned 3,89,57,096 shares or 0.93 per cent stake in the IT major as of September 30. At Tuesday’s close, these shares were valued at Rs 5,944 crore or $717 million at rupee-dollar exchange rate of 82.81. King Charles III, the British monarch, is believed to be worth $500-600 million.

Data showed Murty earned huge dividends annually from her stake in Infosys. The IT major announced an interim dividend of Rs 16.50 per share for FY23. The ex-date for the same is October 27. Murty would be eligible for Rs 64.27 crore worth of dividends.

In FY22, the IT firm announced an interim dividend of Rs 15 per share and a final dividend of 16 per share. At these shares, she would have earned dividend worth Rs 120.76 crore. In FY21, a total dividend of Rs 27 would have earned her Rs 105 crore in dividends.

Infosys Share Price

Infosys was trading higher on Thursday. After making its 52-week low of Rs 1355 apiece in September 2022, Infosys share price has been in an uptrend and has surged up to Rs 1526 apiece levels, ascending to the tune of 12.50 per cent in the last one month. However, the stock has remained under sell-off heat after ushering in 2022. It climbed to its 52-week high in January and after that, the IT stock has been under sell-off heat that went further deep after the outbreak of the Russia-Ukraine war.

Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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By jaghit

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