Q3 Results: Infosys Announces Rs 10,000-Crore Buyback, Special Dividend

By: Anoj Yadav
11 Jan 2019

Infosys Ltd. announced a proportion buyback and a special dividend as the cash-rich company rewards shareholders for the second one time in two years.

India’s 2d-largest data technology company will buy lower back 10.3 crore shares at not more than Rs 800 apiece, a top rate of 17 percent as in line with nowadays’s closing charge. The repurchase will be well worth Rs eight,260 crore, in line with its trade filing.

Infosys also announced a special dividend of Rs 4 consistent with percentage and stuck Jan. 25 as the report date, and Jan. 28 because the payment date. The payout might be worth approximately Rs 2,107 crore.

As of Sep. 30, the company had coins and cash equivalents of Rs 17,851 crore and modern investments really worth Rs 7,580 crore, consistent with its filings.

Infosys had announced a payout of $2 billion (about Rs thirteen,000 crore) thru buyback and dividend at the start of financial yr 2019 as part of its coverage to return 70 percentage of unfastened cash drift.

The agency announced its first-ever buyback worth Rs 13,000 crore in December 2017 and completed it in February 2018. It had then repurchased 11.three crore shares at a pre-bonus price of Rs 1,a hundred and fifty apiece. The scrip went 1:1 ex-bonus in September last year.

Anoj Yadav

I am the lead software developer of this excellent website a2zupdate.com.i developed this website in 2014 and brought it infront of the public eye for them to enjoy the full intoxication of News and Entertainment