This Mid-Cap IT Company Approves 200% Interim Dividend For Fy22

The IT company Persistent Systems in an exchange filing dated January 20, 2022 said that the company's Board of Directors at its meeting held on January 20, 2022 and to be continued on January 21, 2022 has approved payment of Interim Dividend of INR 20/- per Equity Share of INR 10 each for the Financial Year 2021-22.

Other important details in respect of this interim dividend of Rs. 20 for Fy22

Record date to determine shareholders' eligibility- January 29, 2022

Ex-date when the stock shall trade ex-dvidend: January 27, 2022

Dividend Payment Date: The Interim Dividend approved by the Board of Directors at its Meeting held on Thursday, January 20, 2022, will be paid to the Members by Tuesday, February 15, 2022.

Past year's dividend history:

The company for the Fy21 announced Rs. 14 as interim dividend and Rs. 6 as the final dividend, aggregating to Rs. 20 per share of 200%. At the current share price of Rs 4301.60 this results in a dividend yield of 0.46%.

Persistent Systems Q3fy22 results:

The company in its Q3Fy22 earnings announced yesterday reported net profit to the tune of Rs. 176.4 crore, a 45.9% jump on a YoY basis. Also, the profit figure registered a 9.1% gain on a sequential basis. Margins for the quarter have been placed at 16.8 percent. Furthermore, revenue at the firm registered growth 38.7% YoY to Rs. 1491.7 crore. The order bookings at the company for the quarter ended December has been at $334.3M in Total Contract Value (TCV) and at $291.3M in Annual Contract Value (ACV).

About Persistent Systems:

The mid-cap IT products and services company in existence since 1990 has positioned itself as a trusted Digital Engineering and Enterprise Modernization partner that combines deep technical expertise and industry experience. The company extends its solutions to BFSI, health care and life sciences, Industrial, Software and Hi-tech and telecom and media.

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