Infosys to Turn Ex-Dividend Next Week, Key Details in Focus

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Infosys to Turn Ex-Dividend Next Week, Key Details in Focus
Credit: © Reuters.

By Malvika Gurung

Investing.com -- IT behemoth Infosys (NS: INFY ) will remain under focus this week, as its shares will turn ex-dividend for a final dividend for the financial year ended March 31, 2023.

According to Investing.com's ‘Dividend Calendar’, the IT giant is set to turn ex-dividend on Friday, June 2, 2023.

The Board of Directors of Infosys had recommended 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 this dividend for determining the eligibility of shareholders entitled to receive the corporate benefit has been fixed as June 2, 2023, by Infosys’ Board, and the dividend will be paid on July 3, 2023. 

The market heavyweight 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, the company said.

The IT bellwether ended 1% higher at Rs 1,317.45/share on Friday.

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