Infosys Limited (NYSE:INFY) Plans Dividend Increase - $0.21 Per Share

Infosys Limited (NYSE:INFY - Get Free Report) declared a semi-annual dividend on Monday, October 21st, Wall Street Journal reports. Stockholders of record on Friday, January 1st will be given a dividend of 0.2126 per share by the technology company on Tuesday, October 29th. This represents a dividend 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 payment by an average of 14.3% per year over the last three years. Infosys has a dividend payout ratio of 39.1% meaning 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 %

INFY traded down $0.31 on Monday, hitting $22.20. 10,409,892 shares of the company's stock were exchanged, compared to its average volume of 9,365,223. The stock has a fifty day moving average of $22.69 and a two-hundred day moving average of $20.03. Infosys has a twelve month low of $16.04 and a twelve month high of $23.48. The firm has a market cap of $91.91 billion, a PE ratio of 29.21, a P/E/G ratio of 3.68 and a beta of 0.99.

Infosys (NYSE:INFY - Get Free Report) last issued 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 during 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 period in the prior year, the business earned $0.18 EPS. On average, analysts predict that Infosys will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INFY. Investec lowered shares of Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. BMO Capital Markets increased their price objective on Infosys from $23.00 to $25.00 and gave the stock a "market perform" rating in a report on Friday. StockNews.com upgraded Infosys from a "hold" rating to a "buy" rating in a research report on Monday, September 30th. Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Finally, Macquarie upgraded shares of Infosys from an "underperform" rating to a "neutral" rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.