1,650% Dividend Alert: L&T Technology Services declares its highest payout in eight years

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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L&T Technology Services (LTTS) has announced a final dividend of ₹33 per share for the financial year 2024.

This will result in a total payout 1650%, the engineering services company said while announcing its March quarter earnings.

Record date for the final dividend will be fixed in due course. The dividend will be paid within 30 days from the conclusion of the annual general meeting of the company.

“We would like to inform that the Board of Directors at their meeting held today, have recommended a final dividend of 1650% i.e. ₹33 per equity share of face value of ₹2 each, subject to approval of the shareholders of the company, which if approved, shall be paid/dispatched within thirty days from the conclusion of the annual general meeting of the company,” LTTS said.

Last year, LTTS had announced a dividend of ₹17 per share in October, following a ₹30 payout in July and a ₹15 payout in October 2022.

On the earnings front, L&T Tech reported a new profit of ₹341 crore and a revenue of ₹2,537.5 crore in the quarter under review, according to an exchange filing on Thursday.

LTTS shares settled 1.41% lower at ₹5,171.20 apiece on the NSE. The stock has fallen nearly a percent so far this year.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow