IT stock declares interim dividend of ₹19/share, fixes record date for payment

Market


While announcing its third quarter earnings for the three-month period ended December 2022 of the current fiscal (Q3FY23), Indian IT services company Coforge Ltd’s board of directors recommended an interim dividend of 19 per share, and the record date for the interim dividend payout has been fixed as Friday, February 3, 2023.

“We wish to inform you that the Board of Directors at their meeting held on January 20, 2023, have considered and approved the Un-audited Standalone and Consolidated financial results for the third quarter ended December 31, 2022. The Board has also declared third interim dividend of Rs. 19/- (Rupees Nineteen only) per Equity Share of the Company the face value of Rs. l 0/- each fully paid-up, for the financial year 2022-23,” Coforge said in an exchange filing on Friday.

Further in terms of Regulation 42 of the SEBI Listing Regulations, 20 l 5 as amended, the Board has fixed February 03, 2023 as the “Record Date” for the purpose of ascertaining the eligibility of shareholders for payment of third interim dividend, it added. The payment of third interim dividend/ dispatch of dividend warrants would be done within 30 days from the date of declaration of dividend.

Earlier known as NIIT Technologies, Coforge Ltd is a global digital services and solutions provider. The IT stock surged more than 5% on the BSE in Friday’s early deals after reporting Q3 results. Its net profit rose to 228 crore as compared to 184 crore in the year ago quarter. The company has also raised FY23 constant currency (CC) revenue growth guidance to 22% from at least 20%.

The IT services firm has declared an equity dividend amounting to 52 per share in the past 12 months and at the current share price , this results in a dividend yield of 1.32%, as per data by Trendlyne.


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