Infosys Limited (NYSE:INFY) Declares Semi-annual Dividend of $0.21

Infosys Limited (NYSE:INFY) announced a semi-annual dividend on Monday, October 21st, Wall Street Journal reports. Shareholders of record on Friday, January 1st will be paid a dividend of 0.2126 per share by the technology company on Tuesday, October 29th. This represents a yield of 1.1%. The ex-dividend date is Tuesday, October 29th. This is a boost from Infosys’s previous semi-annual dividend of $0.20.

Infosys has increased its dividend by an average of 14.3% annually over the last three years. Infosys has a dividend payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Infosys to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 42.0%.

Infosys Trading Down 1.4 %

NYSE INFY opened at $22.20 on Tuesday. The company has a market cap of $91.91 billion, a PE ratio of 29.21, a PEG ratio of 3.68 and a beta of 0.99. Infosys has a 1 year low of $16.04 and a 1 year high of $23.48. The stock’s 50-day moving average price is $22.69 and its two-hundred day moving average price is $20.03.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same quarter in the prior year, the company posted $0.18 earnings per share. Research analysts forecast that Infosys will post 0.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INFY. Investec cut Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. BMO Capital Markets raised their target price on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.85.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.