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Ekagrah Rohan Murty, NR Narayana Murthy's five-month-old grandson who was gifted a whopping 15 lakh shares by the Infosys founder recently, is set to earn Rs 4.20 crore, thanks to the Bengaluru-IT company declaring a bumper final and special dividend totalling Rs 28 per share.
Murthy had gifted 15 lakh shares to Ekagrah valued at a staggering Rs 240 crore at that time, making the five-month-old the youngest millionaire shareholder of India's second-largest IT company.
On Thursday, the Infosys board recommended a final dividend of Rs 20 per share and additionally a special dividend of Rs 8 per share for the financial year 2024.
"With this, the total payout over FY20-FY24 will be 85 per cent of free cash flow, in line with our capital allocation policy announced earlier," Infosys said in its Q4 earnings release.
The record date for the purpose of the annual general meeting and payment of final dividend and special dividend is May 31, 2024.
The dividend will be paid on July 1, 2024, Infosys informed.
Back-of-the-envelope calculations show that with the dividend at the rate of Rs 28 per share, youngest millionaire Ekagrah is set to earn Rs 4.2 crore.
Ekagrah - the third grandchild of Narayana Murthy - is the son of Rohan Murty and his wife Aparna Krishnan.
His first two grandchildren are daughters of Akshata Murty and UK Prime Minister Rishi Sunak.