Mar 24, 2007

Premji to get Rs 580cr dividend from Wipro

Azim Premji’s holding of 80 per cent in Wipro is turning out to be a good strategy after all. For the second year running, he will be taking home close to Rs 580 crore from dividend payments.

On Friday, Wipro said it has announced a 100 per cent interim dividend (Rs 5 per equity share of face value Rs 5) for the year ending March 31, 2007. With Premji’s holding of 81.91 per cent in Wipro totalling up to a little over 1,160 mn shares, the total payout will be close to Rs 580 crore.

Wipro will be paying out a little over Rs 700 crore as dividend to its shareholders. The Indian public will earn close to Rs 48 crore, based on its holding of nearly 7 per cent.

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