Infosys Raises FY19 Revenue Guidance; Announces Special Dividend
Infosys (INFY) announced, for fiscal 2019, revenue guidance in constant currency revised upward to 8.5%-9.0%; and operating margin guidance retained at 22%-24%.
For the quarter ended December 31, 2018, the company reported basic EPS of $0.12, a decline of 33.9% year-over-year. Operating profit was $675 million, growth of 0.9% from last year. Revenues were $2.99 billion, growth of 8.4%, or up 10.1% in constant currency terms. Digital revenues were at $942 million (31.5% of total revenues), year-on-year growth of 33.1%.
The Board of Infosys approved a buyback of equity shares, from the open market route through the Indian stock exchanges, amounting to approximately $1.18 billion at a price not exceeding approximately $11.46 per share. The Board approved a special dividend of approximately $0.06 per share that would result in a payout of approximately $302 million. The Board also approved the re-appointment of Kiran Mazumdar-Shaw as the Lead Independent Director from April 1, 2019 to March 22, 2023, subject to shareholder’ approval.
Source: Read Full Article