500 per cent dividend: The stock will trade ex-dividend tomorrow! Do you own it?

500 per cent dividend: The stock will trade ex-dividend tomorrow! Do you own it?

Mandar Wagh
/ Categories: Trending, Mindshare

On an annual basis, the company has recorded significant top-line and bottom-line growth.

Indian benchmark indices started the session substantially higher, driven by a more than 7 per cent rally in shares of Bajaj Finance, which reached a 52-week high on the bourses. The energy, oil and gas, and telecommunications sectors, on the other hand, pulled the indices down with significant losses.

Mphasis Ltd, a software and consultancy company was among the top trending stocks today as its shares will trade ex-dividend tomorrow, July 5, 2023. For the financial year ended March 31, 2023, the company's board of directors recommended a final dividend of Rs 50 (500 per cent) per equity share with a face value of Rs 10 each.

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In terms of annual performance, net profit of the company advanced, registering growth of 14.47 per cent to Rs 1,637.92 crore as against Rs 1,430.89 crore during the previous year. Also, net sales rose by 15.36 per cent to Rs 13,798.50 crore as against Rs 11,961.44 crore during the previous year ended on March 2022.

The company recently announced that, pursuant to fulfillment of the closing conditions, it has successfully acquired 100 per cent of the shares of eBECS Limited, a fully owned subsidiary of DXC UK International Operations Ltd. In the early trades of the session, shares have witnessed a considerable buying interest. Over the last year, shares have fallen by around 15 per cent.

Keep a close eye on this stock for the upcoming sessions!

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