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Infosys Board Recommends Capital Return Of $2.08 Bln, Including Dividend And Share Buyback

Infosys Ltd (INFY) said that its board has recommended capital return of 15,600 crore Indian rupees or about $2.08 billion including final dividend of 6,400 crore rupees or about $0.85 billion and open market buyback of shares of 9,200 crore rupees or about $1.23 billion.

Looking ahead for fiscal year 2022, the company expects operating margin to be 22%-24%, and revenue growth of 12%-14% in constant currency.

The board approved buyback of equity shares amounting to 9,200 crore rupees at a price not exceeding 1,750 rupees per share or $23.3 per ADS.

The board has recommended a final dividend of 15 rupees per share or $0.20 per ADS. Together with the interim dividend of 12 rupees per share already paid, the total dividend per share for fiscal year 2021 will amount to 27 rupees per share or $0.36 per ADS which is a 54% increase over fiscal year 2020.

Infosys reportedly said it will hire 26,000 people from India and overseas in fiscal year 2022.

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