Infosys declares final dividend of Rs 15 per share

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IT major Infosys on Wednesday announced a dividend of Rs 15 per share for the financial year ended March 31. The record date for the purpose of dividend is June 1, 2021. The same will be paid on June 25, 2021.

The company also announced its financial results for the quarter ended March 31. Infosys reported 17.47% year-on-year growth in consolidated net profit at Rs 5,076 crore for the quarter ended March 31. It had posted a profit of Rs 4,321 crore in the same period last year. Revenue of the company increased 13% YoY to Rs 26,311 crore.

In its outlook for FY22, Infosys has guided for 12% to 14% sales growth in constant currency terms in 2021-22 and an operating margin band of 22% to 24%.

“A strong momentum exiting FY21, alongside a focused strategy to accelerate client digital journeys, gives us confidence for a stronger FY22,” said, Salil Parekh, CEO and MD, Infosys.

Pravin Rao, COO, Infosys added that despite the disruptions, Infosys continue to execute seamlessly with broad-based momentum across verticals. This has led to healthy volume growth and record utilisation in a seasonally soft quarter.

Further, the company’s board approved a proposal to buyback equity shares worth up to Rs 9,200 crore for a price not exceeding Rs 1,750 per equity share. The total buyback size is less than 15% of the aggregate of the total paid-up share capital and free reserves of the company. As of March 31, promoters held 12.95% in Infosys.

The buyback price of Rs 1,750 is at a premium of 25.13% compared with the scrip’s closing price of Rs 1398.60 on Tuesday (April 13, 2021). Domestic equity markets were closed on April 14 on account of Dr.Baba Saheb Ambedkar Jayanti.