Akshata Murty, Wife of UK PM, to Receive £10.5M Dividend from Infosys Stake

Akshata Murty, the wife of UK Prime Minister Rishi Sunak, is set to receive a £10.5 million dividend from her 0.94% stake in Infosys, the Indian IT company co-founded by her billionaire father NR Narayana Murthy. Infosys, which is based in Bangalore and has a market capitalization of over £50 billion, announced a regular dividend of 20 rupees per share plus an additional 8 rupee-per-share special dividend as part of its 2023 results.

Murty's stake in Infosys will entitle her to this substantial dividend payout, adding to the over £50 million in dividends she has received from the company since the start of 2020. The latest dividend alone would allow Murty to purchase more than 116,000 pairs of Adidas Sambas, the shoes worn by her husband Rishi Sunak.

Murty's wealth and her previous non-domiciled income tax status in the UK have come under scrutiny since her husband's bid to become leader of the Conservative Party in 2022. She has since renounced the non-domiciled status. The couple owns a portfolio of luxury properties estimated to be worth £15 million.

Why this matters: The substantial dividend payout to the wife of the UK Prime Minister from a foreign company raises questions about potential conflicts of interest and the influence of private wealth in British politics. It also highlights the ongoing debate around the tax arrangements of high-net-worth individuals in the UK.

The dividend announcement comes as Infosys, India's second-largest software services exporter, forecast annual revenue below expectations, raising doubts over predictions of an early recovery in the sector. Infosys shares fell as much as 2.9% on Friday, with analysts terming the company's quarterly performance and outlook as disappointing. Concerns have been raised over growth predictability and near-term revenue upside potential for the IT giant.

Key Takeaways

• Akshata Murty, wife of UK PM, to receive £10.5M dividend from Infosys stake
• Murty has received over £50M in Infosys dividends since 2020
• Murty's wealth and non-domiciled tax status have faced scrutiny in UK politics
• Dividend raises questions about potential conflicts of interest and influence of private wealth
• Infosys forecasts annual revenue below expectations, shares fall 2.9%