The five-month-old grandson of Infosys founder N. R. Narayana Murthy, Ekagrah Rohan Murty, is poised to receive a significant boost to his wealth with the announcement of final and special dividends by the IT giant.
According to the Infosys board's recommendations for the financial year ending March 31, a final dividend of Rs 20 per equity share and a special dividend of Rs 8 per share have been proposed. The dividends are scheduled to be paid out on July 1.
In a regulatory filing last month, it was revealed that Narayana Murthy had gifted shares worth over Rs 240 crore to his grandson. Ekagrah Murty was allotted 15 lakh shares, equivalent to a 0.04 per cent stake in the company.
With the combined dividend payout of Rs 28 per share, Ekagrah Murty stands to gain Rs 4.2 crore.
The shares were transferred to Ekagrah Murty through an off-market transaction initiated by his grandfather, Narayana Murthy. Following this transfer, Narayana Murthy's stake in Infosys reduced to 0.36 per cent, representing more than 1.51 crore shares.
Last November, Narayana Murthy and his wife, Sudha Murty, who is now a Rajya Sabha MP, celebrated the arrival of their grandson when their son Rohan Murty and daughter-in-law Aparna Krishnan welcomed a baby boy.
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