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Infosys To Consider Share Buyback, Dividend Payment In Its Board Meet On Jan 11
On Tuesday, the Bengaluru-based software major Infosys said that it will buy back company's share again and pay special dividend for the current fiscal 2018-19 to its shareholders. In a regulatory filing to the BSE Infosys said, "The company's Board of Directors will consider buyback of its paid-up equity shares, payment of special dividend and implementation of the capital allocation policy at its meeting on January 11".
The company's board had given the go-ahead to the capital allocation policy at its meeting on April 13, 2018. The filing added that ""The outcome of the Board meeting will be disseminated to the stock exchanges after the meeting on January 11".
The company in its first buyback worth Rs. 13,000 crore bought back 11.3 crore shares of Rs. 5 face value at Rs. 1,150 share a piece in December 2017.
At Tuesday's closing bell, the stock of Infosys quoted Rs. 669.85 on the BSE.
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