5-mth-old Infy shareholder to earn Rs 4.2 cr in dividends

New Delhi: Ekagrah Rohan Murty, the five-month-old grandson of Infosys founder NR Narayana Murthy, is set to get richer by at least Rs4.2 crore as the IT bellwether announced final and special dividends.

The Infosys’ board has recommended a final dividend of Rs20 per equity share, and a special dividend of Rs8 per stock for the financial year that ended March 31. The dividend will be paid on July 1. According to a regulatory filing last month, Narayana Murthy gifted shares worth more than Rs240 crore to his grandson.

Ekagrah Murty received 15 lakh shares, or 0.04 per cent stake, in the IT major. With the total dividend of Rs28, Ekagrah Murty is now set to pocket Rs4.2 crore.

The 77-year-old Infosys founder had gifted shares to his grandson in an off-market transaction. With this, Narayana Murthy’s holding in the company fell to 0.36 per cent, or more than 1.51 crore shares. In November last year, Narayana Murthy and his wife and now Rajya Sabha MP, Sudha Murty, became grandparents after their son Rohan Murty and wife Aparna Krishnan welcomed a baby boy.