Wipro to give 300 percent dividend for FY 2007

IT bellwether Wipro Ltd announced a total dividend of 300 per cent (Rs 6 per share) for fiscal 2006-07 to its domestic and overseas retail and institutional investors.

IT bellwether Wipro Ltd Friday announced a total dividend of 300 per cent (Rs 6 per share) for fiscal 2006-07 to its domestic and overseas retail and institutional investors.

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The whopping payout includes a final cash dividend of Rs 1 per share/ADS (American depositary share) and an interim dividend of Rs 5 per share, given for the first half of the fiscal under review (FY 2007).

The company's listed equity shares are traded on the Indian bourses (BSE and NSE) and on the New York stock exchange (NYSE) as ADS.

Company chairperson Azim H Premji is the largest shareholder with a holding over 84 per cent of the total equity (paid-up capital).

The dividend payout was recommended by the company's board of directors, which met here to approve the robust financial results of the fiscal under review.