Infosys gives 400 percent interim dividend

Bangalore  :  Ahead of the festival season, Indian IT bellwether Infosys Ltd has declared a whopping 200 percent interim dividend of Rs.20 per share of Rs.5 value to its investors for the first six months (April-Sep) of this fiscal (2013-14).

In a regulatory filing to stock exchanges Friday, the blue chip firm said its board of directors had approved an interim dividend of Rs.20 per share.

“The record date of dividend is October 18, 2013,” the company said in the filing note.

The interim dividend for this fiscal is Rs.5 or 100 percent more than the company gave in last fiscal (2012-13) at Rs.15 per share (300 percent) of Rs.5 value in October 2012.

The company’s better than expected results for the second quarter (July-Sep) of this fiscal, beating estimates, has also buoyed the sentiment and its scrip gained 5.18 percent on the Bombay Stock Exchange (BSE) within two hours of trade opening.

Opening at Rs.3,157.85, the company’s scrip gained 161.85 points to trade at Rs.3,286 at 11 a.m. on the BSE.