The Infosys board has approved a final dividend of Rs 17.50 per equity share for the financial year ended March 31, 2023.
The 42nd Annual General Meeting of the members of Infosys will be held on June 28, 2023.
The record date for the purpose of the Annual General Meeting and payment of the final dividend is June 2, 2023. The dividend will be paid on July 3, 2023.
-Akshata Murty would get Rs 68.17 crore
-Narayana Murthy would earn Rs 29.12 crore
-Sudha Murty would get Rs 60.46 crore
-Rohan Murty would get Rs 106.42 crore
Last year in October, the Board of Directors of Infosys in their meeting announced an interim dividend of Rs 16.50 per equity share. Prior to that, the IT major, in April 2022 recommended a final dividend of Rs 16 per equity share for the financial year ended March 31, 2022.
For FY22, Infosys gave a Rs 15 per share dividend to its shareholders in October 2021. For the financial year ending March 2022 i.e. FY22, Infosys declared a dividend of Rs 31 per share.
Infosys on April 13 posted a nearly 8% increase in consolidated net profit at Rs 6,128 crore for the quarter ended March 31, 2023. The IT services company had posted a net profit of Rs 5,696 crore in the year-ago period.
Infosys' revenue from operations increased 16% to Rs 37,441 crore as against Rs 32,276 crore in the same quarter last fiscal. Revenues in constant currency (CC) terms grew by 8.8% YoY, and declined by 3.2% QoQ.
Infosys Attrition declined further in Q4FY23. The attrition rate for the March quarter stood at 20.9% as against 24.3% sequentially.
The IT services company pegged its FY24 revenue guidance at 4%-7%
Operating margin of 20%-22%
Shares of Infosys closed on Thursday at Rs 1388.60, down 2.79%. The average target for the stock stood at Rs 1,720 ahead of its quarterly results. Data showed Infosys shares traded at 20 times 1-year forward PE multiple, a 3% discount to Nifty IT index.
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