Infosys Ltd. Founder Narayana Murthy's five-month-old grandson, Ekagrah Rohan Murty, will enjoy a dividend of Rs 4.2 crore as the millionaire baby received 15 lakh shares of the his grandfather's information technology company in March 2024.
The IT service major announced a total dividend of Rs 28 per share that included a special dividend of Rs 8 apiece. Both dividends will be paid on July 1 and the record date has been set as May 31.
The shares that the five-month-old received were equivalent to a 0.04% stake in Infosys. The value of Ekagrah Rohan Murty's investment at the current price of Rs 1,407 per share on the BSE stands at about Rs 211 crore.
Infosys had not announced a dividend for the third quarter of FY24, but gave a Rs 18 per share dividend for the second quarter.
In November 2023, Rohan Murty, the son of Narayana Murthy and Sudha Murty, along with his wife Aparna Krishnan, announced the birth of their son.
Ekagrah is the third grandchild of the Murthy family. Narayana Murthy and Sudha Murty have two granddaughters, born to their daughter Akshata Murty and son-in-law Rishi Sunak—the Prime Minister of the United Kingdom.
Shares of Infosys were trading 0.78% lower at Rs 1,407 apiece, compared to a 0.18% advance in the benchmark Nifty 50 as of 1:09 p.m.
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