Infosys dividend history, stock movement, share price targets & more
Infosys declared a total dividend of Rs 34 per share for FY23. This was an 9.7 per cent jump over dividend that the second-largest IT major announced in FY22. In value terms, the IT giant announced a total dividend of Rs 14,200 crore for FY23.
- Jun 2, 2023,
- Updated Jun 2, 2023 1:16 PM IST
Shares of Infosys, which have fallen 13.44 per cent in 2023 so far, will turn ex-dividend on Fiday. While announcing its March quarter results and FY24 guidance in April, the Infosys board had proposed a final dividend of Rs 17.50 per share for FY23. Add an interim dividend of Rs 16.50 per share that Infosys declared earlier for the year, total dividend that Infosys declared for FY23 stood at Rs 34 per share. This was an 9.7 per cent jump over dividend that the second-largest IT major announced in FY22. In value terms, the IT giant announced a total dividend of Rs 14,200 crore for FY23.
Infosys share price history, price targets
On Thursday, shares of Infosys settled at Rs 1,319.45 on BSE, down 0.20 per cent. The stock has fallen 12.50 per cent in the last one year but has doubled investor money by delivering 109 per cent return in the last five years. The average target price on the stock at Rs 1,502, as per Trendlyne, suggests a 14 per cent potential upside on the counter. JPMorgan has a target of Rs 1,200 for the stock; Credit Suisse sees the stock at Rs 1,240. Nomura India finds the stock worth Rs 1,290. Macquarie has a target of Rs 1,400 on the stock, Morgan Stanley Rs 1,475; CLSA, HSBC and Bernstein find the stock worth Rs 1,550 apiece. Investec sees the stock at Rs 1,605
Infosys dividend history, Q4 results
Infosys paid Rs 6,309 crore in total dividends in FY22 and Rs 5,112 crore dividends in FY21. This is against Rs 11,391 crore dividends by HCL Technologies and Rs 7,686 crore dividend by TCS in FY22. TCS paid Rs 8,510 crore in dividends in FY21 and HCL Tech Rs 2,714 crore.
Infosys March quarter results were a miss on all fronts. Infosys' guidance of 4-7 per cent YoY revenue growth in CC terms for FY24 was against 13-15 per cent for FY23 at the start of the previous year. Analysts said Infosys' growth guidance was weak for FY24 and that growth differential with TCS may narrow going ahead. Infosys requires 1.7 per cent to 2.8 per cent compounded quarterly growth rate over the next four quarters to meet its guidance and analysts said the top end for the band appears to be a rather tall task.
Dividends Murthy family to receive
The Murthy family, which includes Infosys co-founder Narayana Murthy (NRN), his wife Sudha N Murty, his son Rohan Murty and daughter Akshata Murty (who is also UK's first lady, wife of PM Rishi Sunak), would be among beneficiaries of the dividend payment.
Narayana Narayana (NRN) Murthy owned 1,66,45,638 shares or 0.46 per cent stake in Infosys, as per the March quarter shareholding pattern. The dividend of Rs 17.50 per share would add Rs 29.13 crore to NRN's wealth. NRN's wife Sudha N Murty would get Rs 60.46 crore in dividends on her 0.95 per cent (3,45,50,626 shares) stake. Rohan Murty, who owned 6,08,12,892 shares, or 1.67 per cent, stake in Infosys, would fetch Rs 106.42 crore in dividend income. Daughter Akshata Murty would earn a dividend of Rs 68.17 crore on 3,89,57,096 shares or 1.07 per cent stake she held as one of the Infosys promoters, as of March 31, 2023.
Infosys' dividend will be paid on July 3.
Also read: Infosys, IndusInd Bank, Mahindra CIE, JSW Energy, Page Industries shares to turn ex-dividend today
Shares of Infosys, which have fallen 13.44 per cent in 2023 so far, will turn ex-dividend on Fiday. While announcing its March quarter results and FY24 guidance in April, the Infosys board had proposed a final dividend of Rs 17.50 per share for FY23. Add an interim dividend of Rs 16.50 per share that Infosys declared earlier for the year, total dividend that Infosys declared for FY23 stood at Rs 34 per share. This was an 9.7 per cent jump over dividend that the second-largest IT major announced in FY22. In value terms, the IT giant announced a total dividend of Rs 14,200 crore for FY23.
Infosys share price history, price targets
On Thursday, shares of Infosys settled at Rs 1,319.45 on BSE, down 0.20 per cent. The stock has fallen 12.50 per cent in the last one year but has doubled investor money by delivering 109 per cent return in the last five years. The average target price on the stock at Rs 1,502, as per Trendlyne, suggests a 14 per cent potential upside on the counter. JPMorgan has a target of Rs 1,200 for the stock; Credit Suisse sees the stock at Rs 1,240. Nomura India finds the stock worth Rs 1,290. Macquarie has a target of Rs 1,400 on the stock, Morgan Stanley Rs 1,475; CLSA, HSBC and Bernstein find the stock worth Rs 1,550 apiece. Investec sees the stock at Rs 1,605
Infosys dividend history, Q4 results
Infosys paid Rs 6,309 crore in total dividends in FY22 and Rs 5,112 crore dividends in FY21. This is against Rs 11,391 crore dividends by HCL Technologies and Rs 7,686 crore dividend by TCS in FY22. TCS paid Rs 8,510 crore in dividends in FY21 and HCL Tech Rs 2,714 crore.
Infosys March quarter results were a miss on all fronts. Infosys' guidance of 4-7 per cent YoY revenue growth in CC terms for FY24 was against 13-15 per cent for FY23 at the start of the previous year. Analysts said Infosys' growth guidance was weak for FY24 and that growth differential with TCS may narrow going ahead. Infosys requires 1.7 per cent to 2.8 per cent compounded quarterly growth rate over the next four quarters to meet its guidance and analysts said the top end for the band appears to be a rather tall task.
Dividends Murthy family to receive
The Murthy family, which includes Infosys co-founder Narayana Murthy (NRN), his wife Sudha N Murty, his son Rohan Murty and daughter Akshata Murty (who is also UK's first lady, wife of PM Rishi Sunak), would be among beneficiaries of the dividend payment.
Narayana Narayana (NRN) Murthy owned 1,66,45,638 shares or 0.46 per cent stake in Infosys, as per the March quarter shareholding pattern. The dividend of Rs 17.50 per share would add Rs 29.13 crore to NRN's wealth. NRN's wife Sudha N Murty would get Rs 60.46 crore in dividends on her 0.95 per cent (3,45,50,626 shares) stake. Rohan Murty, who owned 6,08,12,892 shares, or 1.67 per cent, stake in Infosys, would fetch Rs 106.42 crore in dividend income. Daughter Akshata Murty would earn a dividend of Rs 68.17 crore on 3,89,57,096 shares or 1.07 per cent stake she held as one of the Infosys promoters, as of March 31, 2023.
Infosys' dividend will be paid on July 3.
Also read: Infosys, IndusInd Bank, Mahindra CIE, JSW Energy, Page Industries shares to turn ex-dividend today