The board of directors of IT Major Wipro has approved an interim dividend of Rs 5 per share share for the current fiscal year, according to a regulatory filing.
The board has set April 6, 2022 as the “record date” to determine eligibility for shareholders to pay an interim dividend, the filing said.
“The board of directors of Wipro Ltd, at their meeting on March 25, 2022, which closed at 7:40 PM IST, considered and approved an interim dividend of Rs 5 per share of par value of Rs 2 each for the financial year. 2021-22,” the company said in its filing with the BSE on Friday.
It said the interim dividend will be paid on or before April 24, 2022.
Earlier in January, the company’s board of directors had announced an interim dividend of Rs 1 per share of par value of Rs 2 each to the members of the company. The dividend payment was made on February 5, 2022. With the new announcement, this would be the second interim dividend to be released by Wipro this year.
In another filing on Friday, the company also said it has granted 12,453 restricted shares under its 2004 ADS Restricted Stock Unit Plan to its identified employee. This grant is valid from March 24, 2022.
“These vest under the vesting schedule approved by the Board of Directors, Nomination and Remuneration Committee and are exercisable during the exercise period as approved by the Committee,” it added.
Shares of Wipro on Friday finished at Rs 603.65 apiece on the BSE, down 1.18 percent from the previous close.
Wipro had posted a consolidated net profit of Rs 2,969 crore for the December 2021 quarter, almost flat compared to the same period a year ago.
It has said the demand environment remains “robust”.
The company’s operating revenue grew 29.6 percent to Rs 20,313.6 crore from Rs 15,670 crore in the quarter ended December 2020. Consecutively, it was up 3.2 percent.
Wipro, which generates a large portion of its revenue from IT services, expects that company’s revenue in the March 2022 quarter to be in the range of $2,692-2,745 million. This translates into sequential growth of 2-4 percent for the March quarter.
For the March 2022 quarter, the company expects revenue from its IT services business to be in the range of USD 2,692 million to USD 2,745 million, translating into sequential growth of 2-4 percent.
“Wipro delivered strong performance for the fifth consecutive quarter, both in terms of revenue and margins. Order bookings have also been strong and we have added seven new customers in the over $100 million revenue class in the past 12 months,” said company CEO and President Thierry Delaporte, announcing the results.
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