IT Software Stock Declares Final Dividend, Scrip Rallies 6.28%, Gave 1769.43% Return In 3 Yrs

IT Software stock KPIT Technologies Ltd. on Wednesday, April 26, 2023, recommends a Final Dividend at Rs 2.65 per equity share i.e. 26.5%. The recommended final dividend is a subject by the members at the ensuing Annual General Meeting (AGM).

KPIT Technologies is a global partner to the automotive and Mobility ecosystem for making software-defined vehicles a reality. It is a leading independent software development and integration partner helping mobility leapfrog towards a clean, smart, and safe future. It is a midcap stock having a market capitalisation of Rs. 24, 490.64 crore.

Recommendation of Final Dividend

The company in its regulatory filing has said, "Recommendation of Final Dividend at Rs. 2.65/- per equity share of Rs. 10/- each (26.5%) for FY 2022-23, subject to declaration of the same by members at the ensuing Annual General Meeting ("AGM") of the Company to be held within the stipulated timeline as per the Companies Act, 2013 and the Rules made thereunder. The dividend, if declared by the members at the AGM will be paid within the statutory timeline as per the Companies Act, 2013 & the Rules made thereunder."

It added, "The record date for the purpose of payment of the final dividend will be determined later and will be communicated to the stock exchanges separately.

Stock Outlook, Returns, & 52-Week High/Low

On Wednesday, the stock of KPIT Technologies closed 6.28% higher at Rs 905.50 apiece. The stock touched its 52-week high on 31 March 2023 at Rs 946.65 apiece, and 52-week low on 26 May 2022 at Rs 440.40 apiece, respectively.
The stock has performed well since its listing on 22 April 2019. It surges 5.7% in 1 week, and 27.58% in 3 months, respectively. It has given 73% positive return in 1 year. In 3 years it has given 1,769.43% positive return. Since listing, its shares value rises 771.09%.

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