Infosys declares dividend of ₹17.50 per share, revenue up 16%, PAT at ₹6,128 crore

Infosys reported a consolidated net profit of 6,128 crore as on 13 April – up almost 8% over the same quarter a year ago, as compared to a net profit of Rs. 5,696 crores.

final dividend of 17.50 per equity share is fixed by Infosys Board for the financial year ending March 31, 2023. “The 42nd Annual General Meeting of the members of the Company will be held on Wednesday, the 28th day of June, 2023. The record date for the purposes of the Annual General Meeting and payment of final dividend is the 2nd day of June, 2023. The dividend will be paid on the 3rd day of July, 2023 ,” Infosys said in a stock exchange filing.

Infosys has declared an equity dividend of 620.00% on the face value of Rs. 5 equal 31 per share for the financial year ending March 31, 2022 or FY22. Dividend yield at current share price of 1,383.40 is 2.23%. The company has a solid track record of dividend declarations during the last five years. According to Trendline data, Infosys Limited has issued 47 dividends since October 25, 2000. Infosys Limited declares equity dividend 32.50 per share in the last 12 months. It generates dividend yield at the current share price of 1,383.40 of 2.34%.

Infosys shares closed on NSE today 1,383.40 each level, down 3.14% from the previous close 1,428.30.

Commenting on the technical outlook of the stock post Q4 FY2023, Rahul Ghosh, Founder & CEO – Hedged, an algorithm-driven advisory platform, said, “Infosys stock has recently traded near a very strong support area.” Double bottom pattern has formed and is currently bouncing. From that level. Momentum indicators on the weekly chart have indicated a bullish move just ahead of its results via a positive divergence, and the stock is also bouncing from a demand zone. Keeping this slightly positive to sideways outlook in mind, one can plan the following options strategy on the stock:

Cross Calendar Spread on Infosys:

(+) Buy 1460 CE expiring on May 27 at CMP

(-) Sell 1500 CE expiring on Apr 25 at CMP

Potential Development:

If Infosys prices fall, which is opposite to our expectation, one can roll down the call units sold in April as well as the entire trade to break even or at least reduce the debit of the trade Short fresh may roll call units.

i) Keep in mind that the strike of new short units should not be less than the strike of 1460ce. Ideally it should be strike 1480ce or higher.

ii) The maximum target in this trade is higher and Rs. 6000 but one can exit the position based on their individual risk appetite as the capital involved in the trade is quite less.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.