Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
July 28, Friday 2017 12:08 PM       

       HEADLINES: Man held for trying to sell deer musk                                              P T Usha to boycott Malayalam visual media                                              K R Narayanan's cemetery turns controversial                                              Amit Shah to contest Rajya Sabha polls from Guj                                              Modi congratulates Nitish after resignation                                              Nitish Kumar back to NDA fold, to take oath as Bihar CM tomorrow                                              Nitish Kumar is new Bihar CM, Sushil Modi his deputy                                              Lalu dubs Nitish an 'opportunist'                                              White House says Trump supports sanctions on Russia                                              Sri Lanka labour to 154 for 5 after India fold for 600                                              Kaumudi Facebook
       BUSINESS Next Article: Rupee sinks 17 paise to 64.67 on global woes  
       Infosys plans Rs 13,000 cr pay-out via buyback, dividend
 
         Posted on :14:43:43 Apr 13, 2017
   
A A
       Last edited on:14:43:43 Apr 13, 2017
         Tags: Infosys plans Rs 13,000 cr pay-out via buybac
 

BENGALURU: Infosys on Thursday said it will pay up to Rs. 13,000 crore to shareholders during the current financial year through dividend and/or share buyback.

"The Board has identified an amount of up to Rs. 13,000 crore (USD 2 billion) to be paid out to shareholders during Financial Year 2018, in such manner (including by way of dividend and/or share buyback), to be decided by the Board, subject to applicable laws and requisite approvals, if any," Infosys said in a statement.

The Bengaluru-based firm had recently adopted a new Articles of Association that included a provision for buyback.

"Our capital allocation policy is aimed at balancing the strategic and operational needs of the company as well as enhancing shareholder returns," Infosys CFO MD Ranganath said.

Infosys, which has cash reserve of about USD 6 billion on its books, has been under pressure from investors to utilise the amount either through share buyback or generous dividend.

The pressure had grown further after Infosys industry peers Cognizant and Tata Consultancy Services announced their mega buyback offers worth USD 3.4 billion and Rs. 16,000 crore, respectively, to return surplus cash to shareholders.

Smaller peer, HCL Technologies has also approved a buyback of up to 3.50 crore shares worth Rs 3,500 crore.

Infosys said its current policy is to pay dividends of up to 50 per cent of post-tax profits of a financial year.

"Effective from financial year 2018, the company expects to pay-out up to 70 per cent of the free cash flow of the corresponding financial year in such manner (including by way of dividend and/or share buyback) as may be decided by the Board," it added.

Share buybacks typically improve earnings per share and return surplus cash to shareholders while also supporting share price during period of sluggish market condition.

Two of Infosys former CFOs -- T V Mohandas Pai and V Balakrishnan -- had recently exhorted institutional investors to raise questions about the huge cash pile on the company's books, saying investors have an obligation to protect their investment.

A A
       BUSINESS
Next Article: Rupee sinks 17 paise to 64.67 on global woes
 
 
BUSINESS HEADLINES
HarperCollins launches business imprint  
Indian banks most at risk among South, S-E Asian peers: Poll  
Rupee surges 21p against dollar after no rate hike by US Fed  
RBI to cut repo rate by 25 bps on Aug 2: HSBC  
China accuses India of 'abusing' trade remedy measures  
Sensex rises 50 pts in early trade on earnings  
'India will emerge as one of biggest markets for IT services  
Nifty tops 10,000 for a moment, Sensex slips from record  
Why has RBI not yet given no. of scrapped notes, asks Oppn  
Rupee softens 5 paise against dollar  
Nifty surpasses 10,000 mark, Sensex up by 102 points in opening trade  
Need examples to deter benami deals, says Jaitley  
Jaitley introduces bill to replace Banking Regulation Ordinance in Lok Sabha  
40% of India's GDP outside GST: Chidambaram  
DeMo, GST to widen tax base, make cash dealing difficult: FM  
Pak may face economic instability if reforms stop: IMF  
UN selects Dubai as data hub for MENASA region  
Nifty ends above 9,900, RIL leads  
Sensex's early rise hits a bump, IT weighs  
Australia to help Sri Lanka combat its worst dengue fever  
Niti panel yet to finalise report on autonomous bodies: Govt  
GST win-win deal for all: Jaitley  
Rupee rallies for 3rd session, hits near 6-week high  
NSSO to conduct survey on drinking water in July 2018  
Cabinet clears draft bill to replace GST ordinances for J&K  
 
P U Chithra issue: Is it fair to blame P T Usha?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy