Infosys Drags Most on Nifty, Nifty IT, Sensex on Ex-Dividend Day

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Infosys Drags Most on Nifty, Nifty IT, Sensex on Ex-Dividend Day
Credit: © Reuters.

By Malvika Gurung -- Shares of the IT behemoth Infosys (NS: INFY ) declined 1.5% on Friday as the stock turned ex-dividend in the session.

The market heavyweight traded as the worst-performing stock on benchmark indices Nifty50 and Sensex , along with the sectoral index Nifty IT , during the intraday trade.

The Board of Directors of Infosys declared a dividend of Rs 17.5 per equity share for the financial year 2022-23, while releasing its earnings for the quarter ended March 31, 2023.

The record date for determining the eligibility of shareholders entitled to receive the corporate benefit was fixed as June 2, 2023, by Infosys’ Board, and the dividend will be paid to those eligible on July 3, 2023. 

The Bengaluru-based IT major has already paid an interim dividend of Rs 16.5/share in the fiscal year, and in addition to the final dividend of Rs 17.5/share, the total dividend for FY23 amounts to Rs 34 per share.

This total dividend in FY23 is 9.7% higher than that in FY22. With this, Infosys has announced a total dividend of approximately Rs 14,200 crore (nearly $1.7 billion) for FY23.

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