Infosys Dividend News 2023: Check record date, ex-date and dividend history (Pic: Economic Times)
Infosys Dividend Record Date 2023, Ex-Date: IT major Infosys has announced to pay a dividend to its shareholders. This would be the final dividend that the IT company will pay to its investors for the financial year 2022-23. According to an exchange filing dated April 13, the software firm's board has approved the payment of a massive 350 per cent dividend per equity share. The face value of each share of Infosys is Rs 5. The IT behemoth has also fixed the record date for the payment of the dividend amount.
A dividend is always calculated on the face value of shares. It has nothing to do with the market price of the shares of the company. The dividend is calculated as a percentage of the face value. A dividend is a reward that is paid to the shareholders by a company for their investment in the business.
Infosys Dividend 2023 News Announcement
Infosys informed that it will pay 350 per cent dividend per share bearing a face value of Rs 5. This translates into Rs 17.50. It means that Infosys shareholders will get Rs 17.50 dividend for every share they hold on a given date.
"The Board, at their meeting held on April 12-13, 2023, recommended a final dividend of Rs 17.50 per equity share for the financial year ended March 31, 2023," the Bengaluru headquartered company said in the filing.
Infosys Dividend Record Date 2023
Infosys also said that the board has fixed the record date for determining the eligibility of the shareholders for the payment of Rs 17.50 final dividend for FY23.
"The record date for the purposes of the Annual General Meeting and payment of final dividend is June 2, 2023. The dividend will be paid on July 3, 2023," the IT major added.
The dividend will be credited directly into the bank accounts of the shareholders linked to their Demat accounts.
Infosys Dividend Ex Date 2023
The stock will also trade ex-date on the same day. Since January 27, the ex-date and the record date for all the corporate actions are on the same day as all the instruments have been moved to the T+1 settlement cycle.
Infosys Dividend History
Infosys is among the best dividend-paying companies in India. The company's dividend yield is 2.35 per cent. Before this, the company had paid dividend to its shareholders on two occasions in FY23, amounting to Rs 32.50 per share.
In 2020, the company paid Rs 30 dividend to its shareholders on two occasions.
Infosys Share Price History
Infosys shares on Thursday fell more than 3 per cent to close at Rs 1,383.40 apiece on NSE after the company released its fourth-quarter results. On BSE, it settled at Rs 1,388.60.
The stock has crashed nearly 15 per cent in the last one year and 10 per cent YTD.
Infosys Q4 Results 2023
Infosys, which is the second-largest IT services exporter in the country after TCS, on Thursday, reported lower-than-expected growth in Q4. It posted a 7.8 per cent YoY rise in consolidated net profit at Rs 6,128 crore and gave 4-7 per cent revenue growth forecast for FY24. Sequentially, the net profit for Q4 came in 7 per cent lower.
The company logged a 16 per cent YoY growth in consolidated revenue in the quarter under review at Rs 37,441 crore.
The results were below Street estimates as the company missed revenue guidance for FY23.
