Infosys' promoters richer by Rs 229 crore

The promoters of Infosys Technologies raked in tax-free dividends of Rs 229 crore (Rs 2.29 billion) for the financial year ended March 2004.

With Tuesday's announcement of a 2,000 per cent special one-time dividend (Rs 100 on every Rs 5 paid up share), and a final dividend of Rs 15 per share for the year, the total dividend payout amounts to Rs 129.50 per share, inclusive of the interim dividend of Rs 14.50 per share.

The promoters held 177 million shares (26.61 per cent stake in the total shareholding) on December 31, 2003. As a result, the promoters of the company will take home a tax-free dividend of Rs 229 crore. Infosys' total dividend payout is Rs 862.46 crore (Rs 8.624 billion), up from Rs 178.81 crore (Rs 1.788 billion) in 2002-2003.

N R Narayana Murthy, chairman and chief mentor, takes home Rs 6.44 crore (Rs 64.4 million), while wife Sudha Murthy will receive Rs 18.84 crore (Rs 188.4 million) in dividends. Murthy's daughter Akshata and son Rohan will get Rs 16.39 crore (Rs 163.9 million) and Rs 16.05 crore (Rs 160.5 million), respectively, in dividends. Thus the Murthy family will get a total dividend of Rs 57.72 crore (Rs 577.2 million).

Nandan M Nilekani, Infosys CEO, president and managing director, will be paid Rs 16.96 crore (Rs 169.6 million) as dividend. His wife Rohini will get Rs 16.41 crore (Rs 164.1 million) and children Jahnavi and Nihar will get Rs 3.37 crore (Rs 33.7 million) each. Thus Nilekani's family will receive a total dividend of Rs 40.11 crore (Rs 401.1 million).

Another promoter, S Gopalakrishnan, and his family will receive Rs 38.76 crore (Rs 387.6 million) in dividends for the year. While S Gopalakrishnan himself will get Rs 12.66 crore (Rs 126.6 million), his wife Sudha Gopalakrishnan will receive Rs 24.88 crore (Rs 248.8 million).

Out of the Rs 229 crore dividend, promoters K Dinesh and his family members will receive Rs 28.45 crore (Rs 284.5 million), while S D Shibulal and his family will get Rs 25.66 crore (Rs 256.6 million), the NS Raghavan family Rs 21.77 crore (Rs 217.7 million), N Anand Rs 8.33 crore (Rs 83.3 million) and N Sriram Rs 8.31 crore (Rs 83.1 million).