Infosys founder NR Narayana Murthy (Photo: ANI)
Ekagrah Rohan Murty, the five-month-old grandson of NR Narayana Murthy who recently got a whopping 15 lakh shares from the Infosys founder, is expected to earn Rs 4.20 crore, thanks to the Bengaluru IT company being a great final and has announced a special dividend. Rs 28 per share.
Murthy had gifted 15 lakh shares to Ekagrah worth a staggering Rs 240 crore at the time, making the five-month-old baby 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.
“This will take the total payout over FY20-FY24 to 85 percent of free cash flow, in line with our previously announced capital allocation policy,” Infosys said in its quarterly results.
The record date for 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 said.
Calculations show that with the dividend of Rs 28 per share, the youngest millionaire Ekagrah is expected to earn Rs 4.2 crore.
Ekagrah – Narayana Murthy’s third grandchild – is the son of Rohan Murty and his wife Aparna Krishnan.
His first two grandchildren are daughters of Akshata Murty and British Prime Minister Rishi Sunak.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First print: April 19, 2024 | 4:25 PM IST