13 April, Bengaluru
Indian IT giant Infosys Thursday indicatedthat it might resort to buyback of shares during the current fiscalwith an allocation of Rs 13,000 crore (USD 2 B) to be providedto shareholders during the year.
The Company in its results announced here said that the amountsetaside could be used as either dividend payment or buyback ofshares and an appropriate decision would be taken in due course ofthe year.
The Company Board which met here this morning also decided toenhance the percentage of free cash flow to be shared with theshareholders to 70 per cent from the existing 50 per cent.
Infosys had today announced a final dividend of Rs.14.75 pershare amounting to Rs 4078 crore taking the total dividend paid forthe last fiscal to Rs 25.75 per share or Rs 7119 crore that workedout to 49.6 per cent of the post tax profits and 63 per cent of thefree cash flow.
The company also announced the appointment of IndependentDirector Ravi Venkatesan as the co Chairman of the company.