Wipro to Declare Interim Dividend: Scheduled Board Meeting For Jan 17

On January 7, 2025, Wipro shares are on investors’ radar as the company announced via an exchange filing that its board would meet on Friday, January 17, to approve the company’s results for the December quarter as well as to consider a proposal to issue an interim dividend to shareholders. However, Wipro has not yet disclosed a record date for the proposed dividend.

Wipro’s Historical Dividend and Bonus Issue

Wipro has a history of issuing interim dividends, including ₹1 per share in both January 2024 and January 2023, as well as ₹5 per share in April 2022. The last instance of a dividend greater than ₹5 per share occurred in 2015 when the company announced a final dividend of ₹7 per share.

In addition to dividends, Wipro has regularly issued bonus shares and conducted equity share buybacks. The recent 1:1 bonus issue, announced for its shareholders, marks the 14th time the company has issued bonus shares.

Wipro’s Q2 FY25 Performance

During Q2 FY25, Wipro reported a gross revenue of ₹223.0 billion ($2,662.6 million), reflecting a 1.5% increase sequentially (QoQ) but a 1.0% decrease year-on-year (YoY). The IT services segment revenue stood at $2,660.1 million, up 1.3% QoQ but down 2.0% YoY. Total bookings for the quarter reached $3,561 million, with large deal bookings of $1,489 million, which marked a 28.8% QoQ and 16.8% YoY growth in constant currency. The IT services operating margin for the quarter improved to 16.8%, up 0.3% QoQ and 0.7% YoY. Net income for the quarter was ₹32.1 billion ($383.1 million), showing a robust 6.8% increase QoQ and a 21.3% rise YoY.

For Q3FY25, Wipro anticipates revenue from its IT Services business segment to be in the range of $2,607 million to $2,660 million. This translates to sequential guidance of (-) 2.0% to 0.0% in constant currency terms.

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