19.6 C
New York

Infosys: Narayana Murthy’s grand kid to earn Rs 4.2 cr as dividend




Rohan Murty, N R Narayana


’s five-month-old grandson who was gifted 15 lakh


by the


founder recently, is set to earn Rs 4.2 crore, thanks to the Bengaluru-IT company declaring a bumper final and special


totalling Rs 28 per share.
Murthy had gifted 15 lakh shares to Ekagrah valued at Rs 240 crore at that time, making the five-month-old the youngest millionaire shareholder of India’s second-largest IT company.

On Thursday, the Infosys board recommended a final dividend of Rs 20 per share and additionally a special dividend of Rs 8 per share for the financial year 2024.
“The total payout over FY20-FY24 will be 85% of free cash flow, in line with our capital allocation policy announced earlier,” Infosys said in its Q4 earnings release. The record date for the purpose of the annual general meeting and payment of final dividend and special dividend is May 31, 2024. The dividend will be paid on July 1, 2024, Infosys informed. Back-of-the-envelope calculations show that with the dividend at the rate of Rs 28 per share, youngest millionaire Ekagrah is set to earn Rs 4.2 crore. agencies

India not reaping benefits of demographic dividend: Raghuram Rajan
Former RBI governor Raghuram Rajan highlighted India’s underutilization of demographic dividends, stressing job creation and the need to enhance human capital during a conference at George Washington University, emphasizing challenges in the labor market like high unemployment and capital intensity in manufacturing.

Related articles

Recent articles