Infosys on Thursday announced a final dividend of Rs 20 per share for the financial year 2023-24. It also announced a special dividend of Rs 8 per share. With this, Infosys has declared a total dividend of Rs 46 for the year. This included an interim dividend of Rs 18 per share that it announced post its second quarter results.
Related Articles
Infosys has been a consistent dividend payer, data compiled from corporate database AceEquity suggests. The second largest IT firm declared Rs 34 per share (Rs 16.50 interim, Rs 17.50 final) in total dividend, amounting to Rs 6,844.20 crore in FY23. This was against Rs 31 per share dividend in FY22, amounting to Rs 6,309 crore and Rs 27 per share dividend in FY21, totalling Rs 5,112 crore.
Capital allocation policy FY25-FY29
The Infosys board in its meeting held on April 18, 2024 has reviewed and approved the capital allocation policy for the next 5 years from FY25 – FY29 after taking into consideration the strategic and operational cash requirements as below.
“Effective from financial year 2025, the Company expects to continue its policy of returning approximately 85 per cent of the free cash flow cumulatively over a 5-year period through a combination of semi-annual dividends and/or share buyback/ special dividends subject to applicable laws and requisite approvals, if any.” Infosys said.
Under this policy, Infosys expects to progressively increase its annual Dividend Per Share (excluding special dividend if any.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
