Infosys says share buyback, dividend on agenda in January 11 meeting; key things to know

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Updated: January 8, 2019 5:13:33 PM

IT major Infosys on Monday said that the company board would mull proposals including the buyback of shares, payment of special dividend and also consider the proposal to implement capital allocation policy on its meeting scheduled on January 11.

Infosys will announce its results for its third quarter ended December 31, 2018 on January 11, 2019.

IT major Infosys on Monday said that the company board would mull proposals including the buyback of shares, payment of special dividend and also consider the proposal to implement capital allocation policy on its meeting scheduled on January 11.

“….Board of the Company will consider proposal(s), including but not to limited to, buyback of fully paid-up equity shares of the Company, payment of special dividend, for implementation of the Capital Allocation Policy at its meeting to be held on January 11, 2019,” Infosys said in a regulatory filing.

Infosys will announce its results for its third quarter ended December 31, 2018 on January 11, 2019 around 4.15 p.m IST (Indian Standard Time).

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In December last year, IT behemoth said that its board had identified about Rs 10,400 crore to be paid out to shareholders in FY19. Notably, on April 13th, Infosys board had decided to pay off Rs 13,000 crore and a special dividend of Rs 10 per share, as part of its plan to payout up to 70 per cent of its free cash flow every financial year.

Further, the board had decided an amount of up to approximately Rs 10,400 crore to be paid out to shareholders for the Financial Year 2019, in such a manner, to be decided by the Board, subject to applicable laws and requisite approvals, if any.

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