Mphasis to trade ex-dividend tomorrow; last chance to be eligible for Rs 55 dividend

Indian IT services and consulting firm Mphasis will likely remain in focus today as the company, while declaring its Q4FY24 results, had declared a dividend of Rs 55 for its eligible shareholders.

The company had fixed July 10 as the record date for this purpose, meaning that today is the last date to buy the shares of the company in order to be eligible for the dividend payment.

“Recommendation of dividend of ₹ 55 /- per equity share of ₹10/- each for the year ended 31 March 2024, which is subject to approval of the shareholders at the ensuing Annual General Meeting,” said Mphasis in a previous filing to the stock exchanges.

The company had paid a dividend of Rs 50 per share in FY23.

Also read: Dolly Khanna raises stake in smallcap multibagger Selan Exploration TechnologyMphasis has consistently rewarded its shareholders in the form of dividend payment for many years now. The company pays a final dividend each year. However in 2001, the company had also paid a special dividend to the shareholders, as per the Trendlyne data.Dividends are paid to shareholders whose names appear in the company’s database on the record date. After implementation of the T+1 framework, the record date and ex-date are the same in most cases unless there is a market holiday after the ex-date.Shareholders who buy the stock at least one day before the ex-date are eligible for dividends as settlement happens the next day. Those buying the stock on the ex-date are not eligible for dividends.

Shares of Mphasis 0.7% lower at Rs 2,610 on BSE on Monday.

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