Rs 22/Share Dividend: IT Stock Will Go Ex-Dividend Next Week, 650% Return In 3-Yrs

Leading mid cap company operating in IT software sector, Persistent Systems Ltd is all set to go ex-dividend on July 11, 2023 for an aggregate dividend of Rs 22 per equity share of INR 10 each for the FY 2022-23. The company recommended final dividend of Rs 12/share and special dividend of Rs 10/share on April 25, 2023. Persistent Systems shares offered return of 650% in last 3-years. Check details below:

Persistent Systems Recommended Rs 22 Per Share Dividend: As per the BSE filing of Persistent Systems dated April 25, 2023, "We wish to inform you that the Board has recommended a Final Dividend of INR 12 (INR Twelve Only) per Equity Share and a Special Dividend of INR 10 (INR Ten Only) per Equity Share of INR 10 each for Financial Year 2022-23. The Special Dividend is being recommended for achieving $1 billion in annual revenue and will be paid along with the Final Dividend."

This aggregate Dividend of INR 22 (INR Twenty-Two Only) per Equity Share is subject to the approval of Members at the ensuing Annual General Meeting which will be held on or before September 30, 2023.

The ex-dividend date is July 11, 2023. If the current market price of Persistent Systems share is taken into consideration, it offers a dividend yield of 1.02%.

Persistent Systems Stock Outlook & Return: Current market price of Persistent Systems share on BSE is Rs 4887.30 per share with intraday gain of 0.63%. Its 52-week high price is Rs 5278.50 per share and 52-week low price is Rs 3091.65 per share, respectively. The company has a market capitalisation of Rs 37,551.71 crore. Persistent Systems shares delivered 27% return in last 6-months, 45% return in last 1-year, and 67% return in last 2-years. In last 5-years, Persistent Systems stock jumped 485%.

Persistent Systems Financial Performance: The company for the quarter ended March 31, 2023 announced its consolidated total income at Rs 2263.30 crore, up 2.78% from previous quarter total income of Rs 2202.12 crore. The company in the latest quarter declared its net profit after tax at Rs 251.51 crore.

Persistent Systems About: It is digital engineering and enterprise modernization partner, combining deep technical expertise and industry experience to help its clients anticipate what's next and take action. It works with many industry leading organizations across 18 countries - including 14 of the 30 most innovative US companies, 80% of the largest banks in the US and India, and numerous innovators across the healthcare ecosystem, according to its LinkedIn page.

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