Thursday, 13 April 2017

Markets open lower; Nifty below 9200, Infosys, Tata Steel down

Information technology (IT) major Infosys on Thursday announced a dividend of Rs 14.75 per share for the financial year that ended on March 31, 2017. The company also reviewed and approved a revised capital allocation policy of the company. As part of the plan, the payout of free cash flow has been hiked to 70 percent of free cash flow, including by way of dividend or share buyback. Additionally, an amount of Rs 13,000 crore will be paid out to shareholders during the current financial year.

Dollar revenue during the quarter stood at USD 2569 million, a growth of 0.7 percent over USD 2551 million in December quarter, which was slightly lower than analysts' forecast of USD 2,584 million.

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