Infosys declares final dividend of Rs 17.50 per equity share for FY23.
Infosys, a leading Indian multinational IT company, has declared a dividend of Rs 17.50 per equity share for the fiscal year that ended on March 31, 2023.
Infosys Ltd, a prominent Indian IT services provider, has reported its financial results for the fourth quarter that ended March 31, 2023 (Q4FY23). The company has revealed that its revenue from operations during the quarter has increased by 16% to Rs 37,441 crore compared to Rs 32,276 crore in the same period last year. The revenue growth in constant currency (CC) terms is 8.8% year-over-year and has fallen by 3.20% quarter-over-quarter (QoQ).
This announcement of the dividend is expected to benefit the company's shareholders, as it indicates that the company has generated sufficient profits and has a positive outlook for the future. The increase in revenue and profit after tax is also a positive sign for the company's overall financial health.
The company has stated that the dividend will be paid on July 3, 2023, and the record date for the Annual General Meeting and payment of the final dividend is June 2, 2023. Infosys has a history of consistently announcing dividends over the past five years, with 47 dividends declared since October 25, 2000.
On April 13, Infosys announced its consolidated net profit of RS 6,128 crore, which is almost 8% higher compared to its net profit of RS 5,696 crore during the same quarter the previous year.
Infosys has announced a final dividend of Rs 17.50 per equity share for the fiscal year that ended on March 31, 2023. The dividend will be paid on July 3, 2023. The company's 42nd Annual General Meeting will be held on Wednesday, June 28, 2023. The record date for the Annual General Meeting and payment of the final dividend has been set for June 2, 2023. This information was disclosed by Infosys in a filing with the stock exchange.
The shares of Infosys will trade ex-dividend one or two days before the record date. This means that the stock will not include the value of the next dividend payment on that day. The ex-dividend date also determines which shareholders are entitled to receive the dividend payment.
For fiscal, it is important to note that the financial year for Infosys runs from April 1 to March 31. The company's annual report for the year is expected to be released in the coming months, which will provide more detailed information on its financial performance and other important details, Financial year that ended on March 31, 2022, Infosys announced an equity dividend of 620% at a face value of Rs 5, equating to Rs 31 per equity share. As of the current share price of Rs 1353.40, the dividend yield is 2.23%. Over the past 12 months, Infosys has declared an equity dividend of Rs 32.50 per share, generating a dividend yield of 2.34% at the current share price.
The Infosys stock closed at Rs 1383.40 apiece on the National Stock Exchange (NSE) today, down by 3.14% from the previous close of Rs 1428.30.
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