Infosys Dividend 2024: Ex-Date On 31st May; Buy For Rs 28/Share Cash Payout By July 1?

In terms of consulting and next-generation digital services, Infosys is a world leader. With more than 40 years of expertise overseeing the operations of large, international corporations, it can successfully guide customers through their cloud- and AI-powered digital transformation. This week, attention will probably be focused on the shares of the giant IT company Infosys, as they are scheduled to trade ex-dividend on May 31 for the final payout of Rs 28 per share for FY24.

Infosys Dividend

The Board of Directors "Recommended a final dividend of Rs 20/- per equity share for the financial year ended March 31, 2024 and additionally a special dividend of Rs 8/- per equity share. The 43rd Annual General Meeting of the Members of the Company will be held on Wednesday, June 26, 2024. The record date for the purpose of the Annual General Meeting and payment of final dividend and special dividend is May 31, 2024. The dividend will be paid on July 1, 2024," said Infosys in a regulatory filing.

Infosys Q4 Results Takeaways

Infosys reported a 30 per cent YoY boost to its consolidated net profit for the March quarter, coming in at Rs 7,969 crore as opposed to Rs 6,134 crore in the same period last year. It said that compared to Rs 37,441 crore in Q4FY23, its revenues for the quarter increased by 1.3% YoY to Rs 37,923 crore in Q4FY24. In constant currency (CC) terms, Infosys has projected a 1-3% boost in revenue for FY25. Infosys projected an FY25 margin forecast of 20-22%.

Infosys Share Price Target

"Infosys Limited has piqued the interest of investors and traders alike after the Indian multinational information technology company declared a cash dividend of Rs. 20 per share and a cash special dividend of Rs. 8 per share, effective May 31, 2024. The stock has offered a one-year return of 11.94% and a dividend of 3.14%, higher than the sector yield of 1.93%. On the other hand, it has a PE ratio of 23.12, lower than the sector PE of 29.87, suggesting undervaluation. Collectively, these financial aspects make the stock appealing to many.

However, we must note that the stock is hitting resistance and is currently trading above its 200-EMA but below 20-days EMA, and could witness a potential breakout. Those who wish to make the most of an anticipated rally can consider the buying range of Rs. 1390 to 1450 for a target price of Rs. 1500-1680. They may hold it for a period of 2.5-8 months for the stocks to generate earnings while closely following the stop loss of Rs. 1330 to protect gains," commented V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.