Narayana Murthy's 5-month-old grandson set to earn Rs 4.2 cr from Infosys dividend; holding reaches Rs 210 cr
By Team Asianet Newsable | First Published Apr 19, 2024, 2:27 PM ISTWhile announcing the company’s Q4 numbers, Infosys declared a total dividend of Rs 28 on Thursday, including a final dividend of Rs 20 and a special dividend of Rs 8. The record date for the payment of the final dividend and a special dividend has been fixed at May 31.
Ekagrah Rohan Murty, the five-month-old grandson of Infosys founder NR Narayana Murthy, is expected to get Rs 4.2 crore after the IT giant declared a special and final dividend on April 18. While announcing the company’s Q4 numbers, Infosys declared a total dividend of Rs 28 on Thursday, including a final dividend of Rs 20 and a special dividend of Rs 8.
The distribution of the final dividend and special dividend is scheduled for July 1, with the record date set for May 31. Last month, Narayana Murthy had gifted shares worth over Rs 240 crore to Ekagrah.
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Ekagrah had acquired 15 lakh shares, or 0.04%stake, in India’s second-largest information technology services company. Considering the overall Rs 28 dividend, Ekagrah will earn Rs 4.2 crore.
Murthy's stake in Infosys dropped from 0.40 percent to 0.36% following this transaction, or more than 1.51 crore shares. The acquisition was made "off-market." However, Ekagrah’s overall value of Infosys shares declined by Rs 30 crore as they fell roughly Rs 200 apiece since he was gifted them. On April 19 at 11:15 am, Infosys shares were trading 1.2% lower at Rs 1,402.4 apiece.
In November 2023, Murthy and his wife, author-philanthropist Sudha Murty, became grandparents after their son Rohan Murty and wife Aparna Krishnan welcomed a baby boy. The baby is the third grandchild of the Murthys, who are also the grandparents of First Lady Akshata Murty of the United Kingdom's two children.
On April 18, Infosys reported a 30% year-over-year increase in net profit for the fourth quarter that concluded in March 2024, amounting to Rs 7,969 crore. However, compared to Rs 37,441 crore in the previous year, its revenues from January to March 2024 increased by just 1.3% YoY to Rs 37,923 crore.
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