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The Board of Infosys has recommended a final dividend of Rs 17.50 per equity share for the financial year ended March 31. The record date for the said dividend payment is June 2. The dividend will be paid on July 3.

The final dividend will be paid to the shareholders of the company whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on record date.

Shares of companies trade ex-dividend on the day of record date or a day before. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.

In the past 12 months, Infosys has declared an equity dividend amounting to Rs 16.50 per share, which results in a dividend yield of 1.25%.

On Thursday, the shares of the IT major closed 0.17% higher at Rs 1,320.55 on NSE.

Meanwhile, private lender IndusInd Bank had earlier recommended a final dividend of Rs 14 per equity share for FY23, subject to the approval of the shareholders at the annual general meeting (AGM).The company has also fixed June 2 as the record date for the said dividend payment.

IndusInd Bank has paid a total dividend of Rs 8.50 in the last one-year period, resulting in a dividend yield of 0.66%.

For the March quarter, IndusInd Bank’s net profit rose 50% to Rs 2,040 crore, while net interest income (NII) came in at Rs 4,669 crore, which is up 17%.

IndusInd Bank shares closed 0.34% higher on Thursday at Rs 1,291 on NSE. So far this year, the stock is up about 5%.