Akshata, wife of Britain’s prime minister Rishi Sunak stands to make Rs 68.17 billion in dividend income through her holdings in India’s largest IT company Infosys.
Murty, the daughter of Infosys founder Narayana Murthy held 3.89 million shares of Infosys by the end of December. This is according to the company’s filings on the stock exchanges.
Infosys announced a final dividend for FY23 (April 20,22 to March 20,23) of Rs 17,50 per share. If she holds her shares until the record date of June 2, she will receive Rs 68.17 lakh.
She would receive Rs 132.4 crore in addition to the interim dividend declared by October last year.
Infosys distributed Rs 31 per share in the fiscal year prior, giving her Rs 120.76 crore. At the closing price of Rs. 1,388.60 on Thursday, her holdings are worth just under Rs 5,400 billion.
Infosys ranks among the top dividend-paying companies in India.
Sunak, 42 years old, became Britain’s youngest prime minister in history and the first of Indian descent in October last year.
Sunak is British, but his wife, Akshata, holds an Indian passport. Her non-domiciled position, which allows her up to 15 years to earn money overseas without paying taxes in Britain, has caused controversy in the UK.
When Sunak entered the race for the position of Prime Minister in April of last year, the non-domiciled situation of Akshata was a topic of discussion.
Her spokesperson then stated that she could not hold dual citizenship as an Indian citizen and that she “has always paid UK taxes on her UK income” and would continue to do so.
Akshata, as the controversy grew, announced at that time that she would pay UK taxes on all her worldwide earnings because of “a British sense of fairness”.
The amount of tax she paid on her dividend income in the UK is unknown.
Akshata Murty was born in Hubballi, the hometown of her mother, Sudha, in northern Karnataka. She attended school in Bengaluru before going to Claremont McKenna College, California, and graduating with a double major in French and economics.
She earned a fashion design diploma at the Fashion Institute of Design and Merchandising, Los Angeles. This was after a brief stint of work with Deloitte and Unilever. She then studied for her MBA at Stanford, where she met Rishi.
They were married in 2009. The couple has two children, Krishna and Anoushka, both real estate investors.
They live in a townhouse worth 7 million pounds in Kensington. They own a flat and a mansion, both in Rishi’s constituency in Yorkshire.
Sunak, the son of a doctor and a pharmacist, was educated in England at Winchester School and Oxford University. He worked for Goldman Sachs Group Inc. for three years and then earned an MBA at Stanford University in California, where he met Akshata.
According to Infosys’ filings, promoters own 13.11 per cent of the company. The Murthy family holds 3.6 per cent of this (Narayana Murthy owns 0.40 per cent, his wife Sudha has 0.82 per cent, Rohan is 1.45 per cent, and Akshata is 0.93 per cent).
The other promoters are S Gopalakrishnan and his family, Nandan M. Nilekani, and S D. Shibulal.