Dividend Rs 22 per Share: IT Stock Set to Go Ex-Dividend Next Week- Persistent Systems Ltd, a prominent mid-cap company operating in the IT software sector, is preparing to go ex-dividend on July 11, 2023. The company has announced a substantial aggregate dividend of Rs 22 per equity share of INR 10 each for the fiscal year 2022-23.
This includes a recommended final dividend Rs 12 per share and a special dividend of Rs 10 per share, both declared on April 25, 2023. In the past three years, Persistent Systems shares have provided an impressive return of 650%. Let's delve into the details below:
Persistent Systems Recommends Dividend Rs 22 per Share
According to the official BSE filing made by Persistent Systems on April 25, 2023, the company states, "We are pleased to inform you that the Board has recommended a Final Dividend of INR 12 (INR Twelve Only) per Equity Share and a Special Dividend of INR 10 (INR Ten Only) per Equity Share of INR 10 each for the Financial Year 2022-23.
The Special Dividend has been proposed in recognition of the achievement of $1 billion in annual revenue, and it will be paid in conjunction with the Final Dividend."
Please note that the approval of the members at the upcoming Annual General Meeting, scheduled on or before September 30, 2023, is required for the implementation of this aggregate Dividend of INR 22 (INR Twenty-Two Only) per Equity Share.
Ex-Dividend Date and Dividend Yield
The ex-dividend date for Persistent Systems is set for July 11, 2023. Considering the current market price of the company's shares, it offers a dividend yield of 1.02%.
Persistent Systems Stock Outlook & Return
As of the latest available data, the market price of Persistent Systems shares on BSE stands at Rs 4887.30 per share, reflecting an intraday gain of 0.63%.
The 52-week high price and low price of the stock are recorded at Rs 5278.50 per share and Rs 3091.65 per share, respectively. The company currently holds a market capitalization of Rs 37,551.71 crore.
Looking at the historical performance, Persistent Systems shares have delivered a remarkable 27% return in the last six months, 45% return in the last year, and an impressive 67% return in the last two years.
Over the past five years, the stock has shown an astounding jump of 485%.
Persistent Systems Financial Performance
For the quarter ending March 31, 2023, Persistent Systems announced its consolidated total income of Rs 2263.30 crore, indicating a 2.78% increase compared to the previous quarter's total income of Rs 2202.12 crore.
The company's net profit after tax for the latest quarter stood at Rs 251.51 crore.
About Persistent Systems
Persistent Systems Limited is a leading digital engineering and enterprise modernization partner, leveraging its deep technical expertise and industry experience to help clients anticipate future trends and take proactive measures.
The company operates across 18 countries, collaborating with numerous industry-leading organizations, including 14 out of the 30 most innovative US companies, 80% of the largest banks in the US and India, and various innovators within the healthcare ecosystem, as indicated on its LinkedIn page.
Dividend AnnouncedDisclaimer
The information provided in this article is solely for informational purposes and does not constitute a recommendation to buy, sell, or hold Persistent Systems' stock.
No fundamental or technical analysis has been conducted, and the author, as well as Greynium Information Technologies, bears no responsibility for any losses incurred.
It is advisable to consult a professional advisor before making any investment decisions.
FAQ about Persistent Systems
Q: What is the dividend amount being offered by Persistent Systems Ltd?
A: Persistent Systems Ltd is offering a dividend Rs 22 per share.Q: When will the ex-dividend date for Persistent Systems' stock take place?
A: The ex-dividend date for Persistent Systems' stock is coming up next week.Q: How much return has Persistent Systems generated over the past three years?
A: Persistent Systems has recorded an impressive return of 650% over the past three years.Q: What is an ex-dividend date?
A: The ex-dividend date is the date on which a stock no longer carries the right to receive the most recently declared dividend. If an investor purchases the stock on or after the ex-dividend date, they will not be eligible to receive the dividend payment.Q: Is the dividend Rs 22 per share guaranteed?
A: Dividend Rs 22 per share: The dividend amount of Rs 22 per share is subject to the approval of members at the Annual General Meeting, which will be held on or before September 30, 2023.Q: How can I participate in receiving the dividend?
A: To be eligible for the dividend, you need to own shares of Persistent Systems before the ex-dividend date. If you purchase shares on or after the ex-dividend date, you will not be entitled to receive the dividend.Q: How is the dividend payment calculated?
A: The dividend payment is calculated by multiplying the dividend per share (Rs 22) by the number of shares you ownQ: What is the dividend yield for Persistent Systems' stock?
A: The dividend yield for Persistent Systems' stock can be calculated by dividing the dividend per share (Rs 22) by the current market price of the stock.Q: Where can I find more information about Persistent Systems' financial performance?
A: For more information about Persistent Systems' financial performance, you can refer to their official financial statements, quarterly reports, and annual reports. These documents are usually available on the company's website or can be obtained through financial news sources.Q: Is investing in Persistent Systems' stock recommended?
Answer: This article is not a recommendation to buy, sell or hold Persistent Systems stock. It is advised to do thorough research, consider your investment goals and risk tolerance and consult a professional financial advisor before making any investment decision.https://bit.ly/46CZP45
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