HCLTech Revises Q3 Dividend Record Date: A New Update for Investors
HCLTechnologies, one of India’s leading IT companies, has made an important change to its Q3 dividend announcement. The company has revised the record date for its interim dividend payout of Rs 12 per equity share from January 16 to January 17. This change comes after the stock exchanges confirmed that January 15 would be a trading holiday due to the BMC elections.
The revised record date means that investors who want to be eligible for the dividend payout must have HCLTech shares in their demat account by January 17. The dividend amount will be paid to eligible shareholders on January 27, as per the company’s exchange filing.
HCLTech’s Q3 Results: A Mixed Bag
HCLTech also announced its Q3 results for the current financial year, which were a mixed bag. The company reported a consolidated sequential net profit of Rs 4,082 crore, which was down 3.8% from the previous quarter’s Rs 4,236 crore. This missed the estimate of Rs 4,702 crore from analysts tracked by Bloomberg.
However, the company’s revenue was up 6% at Rs 33,872 crore, compared to Rs 31,942 crore in the previous quarter. The EBIT (earnings before interest and tax) was also up 14.2% at Rs 6,285 crore, compared to Rs 5,502 crore in the previous quarter. The EBIT margin was at 18.6%, compared to 17.2% in the previous quarter.
Despite the mixed Q3 results, HCLTech’s shares closed 0.34% higher at Rs 1,155.9 apiece on the NSE, compared to a 0.42% rise in the benchmark Nifty. The stock has fallen 16.18% in the last 12 months.
What Do Analysts Think of HCLTech’s Q3 Results?
Out of the 47 analysts tracking HCLTech, 23 have a ‘buy’ rating on the stock, 17 recommend ‘hold’, and seven suggest ‘sell’, according to Bloomberg data. The average of 12-month analysts’ price target implies a potential upside of 2.0%.
Indian investors who are looking to invest in HCLTech or are already holding the stock should keep an eye on the company’s future earnings and dividend payouts. They can also check out our article on How to Invest in Stock Market for more information on investing in the Indian stock market.
How to Check Your Eligibility for HCLTech’s Dividend Payout
To check your eligibility for HCLTech’s dividend payout, you can follow these steps:
- Log in to your demat account and check if you have HCLTech shares in your account.
- Check the record date for the dividend payout, which is January 17.
- If you have HCLTech shares in your account on or before January 17, you will be eligible for the dividend payout.
You can also check out our article on Dividend Investing Strategy for more information on how to invest in dividend-paying stocks.
Conclusion
HCLTech’s revised Q3 dividend record date is an important update for Indian investors who are holding the stock or are looking to invest in it. The company’s Q3 results were a mixed bag, but the dividend payout is a positive development for investors. By following the steps outlined above, investors can check their eligibility for the dividend payout and make informed investment decisions.
For more information on the Indian stock market and investing, you can check out our articles on Stock Market News and Investing in Indian Stock Market.