Home / Markets / Stock Markets /  This large cap IT stock to soon pay a final dividend of 110%: Details here
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Persistent Systems Ltd is an IT software firm with a market valuation of 24,922 crore that falls under the large-cap category. This international corporation has operations in Asia, Australia, and Europe in addition to North and Central America. Banking & Financial Services, Insurance, Healthcare, Life Sciences, Industrial, Software & Hi-Tech, and Telecom & Media are among the sectors covered by the company's business and digital worldwide solutions. The company has declared an equity dividend of Rs. 11 per share for the financial year 2021–2022.

On 24th June 2022, the company has said in BSE exchange filing that “We wish to inform you that the Board of Directors of the Company, at its meeting held on April 27, 2022, has recommended the Final Dividend of INR 11 (INR Eleven) per Equity Share of INR 10 (Ten) each for the Financial Year 2021-22, subject to the approval by Members in the 32 nd Annual General Meeting of the Company to be held on Tuesday, July 19, 2022."

“The Final Dividend, if approved by the Members at the 32nd Annual General Meeting scheduled to be held on Tuesday, July 19, 2022, will be paid to the Members on or before Thursday, August 18, 2022," the company further added.

The company declared an interim dividend of 20.00 per share on January 17, 2022, and Persistent Systems has announced an equity dividend of 310.00 per cent, or 31 per share, for the fiscal year ending March 20, 2022. Adding both dividends generates a dividend yield of 0.95 per cent in 2022 at the current share price of 3260.10. The stock declined 3.19 per cent from its previous close of 3367.60 on the NSE to close Friday's trading session at 3,260.10. The stock has gained 20.64 per cent over the last year, but it has fallen 33.09 per cent year-to-date (YTD) in 2022. The stock is trading above the 5-day moving averages but below the 20-day, 50-day, 100-day, and 200-day moving averages according to the current share price.

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