Wipro Stock In Focus Ahead Of Last Day To Qualify For Interim Dividend

Shares of IT major Wipro Ltd. saw a drop of 2.17% on Monday as investors adjusted their positions ahead of the last trading day before the company's ex-dividend date. Wipro has declared an interim dividend of Rs 6 per share, with the record date for determining eligible shareholders set for Tuesday, January 28, 2025. The ex-dividend date, which falls tomorrow, marks the point at which the stock begins trading without the entitlement to dividends.

To qualify for the dividend, investors must hold the stock before the ex-date. After January 28, Wipro's shares will no longer carry the entitlement for the dividend, and only those on the company's shareholder list as of the record date will receive the payout.

Wipro’s financial results for the quarter ended December 31, 2024, showed a mixed but generally positive performance. The company reported a slight revenue increase of 0.1%, reaching Rs 22,319 crore, slightly exceeding analysts’ estimates of Rs 22,218 crore.

Wipro’s net profit rose by 4% quarter-on-quarter to Rs 3,354 crore, beating market expectations of Rs 3,057.4 crore. In terms of profitability, the company’s earnings before interest and taxes grew by 5%, reaching Rs 3,863 crore, surpassing the consensus estimate of Rs 3,628 crore. Additionally, Wipro’s operating margin improved to 17.3%, exceeding the forecasted 16.33%.