Shares of Information Technology (IT) services firm Infosys will be in focus in today's trade, as the stock started trading ex-dividend on Wednesday, October 25. The IT firm had announced an interim dividend of ₹18 per equity share for the financial year 2023-24. The record date for the said dividend is also October 25.

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The scrip opened nearly a percent lower at ₹1,396.55 apiece on the NSE. The stock has gained 14% in the past six months, while it has slipped 8.46% in the past year.

All eligible shareholders of Infosys with their names on the list at the end of Wednesday would be eligible to receive dividends. The Bengaluru-based company has fixed November 6, 2023, as the payout date for the same.

Infosys has declared 49 dividends since October 25, 2000. In the past 12 months, the IT major has declared an equity dividend amounting to ₹52 per share, according to data from Trendlyne.

At the current share price of ₹1,408.65, this results in a dividend yield of 3.69%.

Data compiled with the corporate database AceEquity shows Infosys has been a regular dividend payer. In April this year, Infosys announced a final dividend of ₹17.50 per share for FY23. For FY23, the IT services firm announced ₹34 a share in total dividend, totalling ₹6,844.20 crore. This was against ₹31 a share dividend, amounting to ₹6,309 crore in FY22 and ₹27 per share dividend, totalling ₹5,112 crore.

Infosys also expects its FY24 revenue to grow between 1% and 2.5%, narrower than the 1-3.5% growth it guided for during its June quarter results. The company lowered the upper end of its guidance while reporting its results for the September quarter.

The IT major won deals worth $7.7 billion in the September quarter. The Street was anticipating deal wins to lend comfort to the company's future growth trajectory.

Infosys MD and CEO Salil Parekh said that the deal wins were the highest across verticals and geographies. "This, in an uncertain macro-environment, is a testament to our ability to pivot and stay relevant to the evolving client needs," he said.

(Edited by : Amrita)

First Published:Oct 25, 2023 9:19 AM IST