Moneycontrol
Last Updated : Jun 14, 2018 10:41 AM IST | Source: Moneycontrol.com

Infosys falls more than 2% as stock adjusts for dividend

Infosys, on April 13, had recommended a final dividend of Rs 20.50 per equity share for the financial year ended March 31, 2018 and special dividend of Rs 10 per share.

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Infosys share price fell more than 2 percent in morning after the stock adjusted for dividend.

The country's second largest software services provider, on April 13, had recommended a final dividend of Rs 20.50 per equity share for the financial year ended March 31, 2018 and special dividend of Rs 10 per share.

The dividend will be paid on June 26, 2018.

Infosys had said the register of members & share transfer books of the company would remain closed on June 16 for the purpose of payment of dividends & 37th Annual General Meeting (AGM) of the company to be held on June 23, 2018.

Meanwhile, Infosys is now 25 years old on stock exchanges and has been one of the biggest wealth creators on Dalal Street.

Infosys was established by NR Narayana Murthy and six engineers in Pune with an initial capital of $250. It made an initial public offer in February 1993 and its shares were listed on Indian stock exchanges on June 14, 1993.

Trading opened with a huge premium of Rs 145 per share, compared to its issue price of Rs 95 per share. In March 1999, it issued 20,70,000 American depository shares (equivalent to 10,35,000 equity shares of par value Rs 10 each) at $34 per ADS. The same was listed on the NASDAQ National Market.

Since then, Infosys hasn't looked back. From an initial capital of $250, it has grown to become a $10.9 billion (FY 18 revenue) company with a market capitalisation of about $40 billion. The IT bellwether and its subsidiaries had 204,107 employees as on March 31.

Its March quarter (2018) profit fell 28.1 percent sequentially to Rs 3,690 crore as Q3FY18 net included the positive impact of Rs 1,432 crore on account of the conclusion of an APA with the US IRS.

Revenue from operations grew by 1.6 percent QoQ while dollar revenue increased 1.8 percent sequentially to $2,805 million for the quarter.

At 10:05 hours IST, the stock price was quoting at Rs 1,248.00, up Rs 2.40, or 0.19 percent on the BSE.
First Published on Jun 14, 2018 10:29 am
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