Rs 10/Share Dividend: IT Stock Declares Record Date, Check Buy/Sell, Eligibility

Persistent Systems Ltd share today gained 1.46% to settle at Rs 3895.95 per share on BSE. The IT Software company today fixed July 9, 2024 as the record date for the final dividend of Rs 10/share have a face value of Rs 5 each for the financial year 2023-24. Persistent Systems Ltd shares offered return of over 10% in last 1-month, slipped 2.58% in last 3-months and surged 147% in last 2-years. The mid-tier IT company on April 21, 2024 recommended Rs 10/share final dividend. Earlier this year, Persistent Systems shares traded ex-split in the ratio of 1:2 with record date fixed as April 01, 2024. The company has a market capitalisation of Rs 60,017.11 crore.

Number of FII/FPI investors increased from 659 to 710 in March 2024 quarter. Institutional Investors have increased holdings from 50.68% to 50.84% in March 2024 quarter. Kotak Emerging Equity Scheme has 3.18% stake in Persistent Systems. Check more details below:

Persistent Systems Dividend: As per the regulatory filing of the company issued as on April 21, 2024, "We wish to inform you that the Board of Directors has recommended a Final Dividend of INR 10 (INR Ten only) per Equity Share having a face value of INR 5 (INR Five only) each for Financial Year 2023-24. This Final Dividend is subject to the approval of Members at the ensuing Annual General Meeting which will be held on or before September 30, 2024. The Book Closure and Record date for the purpose of payment of the Final Dividend for the Financial Year 2023-24 will be determined later and will be informed separately."

Persistent Systems Launched AI Hub: Persistent Systems today launched GenAI Hub, an innovative platform designed to accelerate the creation and deployment of Generative AI (GenAI) applications within enterprises. This platform seamlessly integrates with an organization's existing infrastructure, applications, and data, enabling the rapid development of tailored, industry specific GenAI solutions. GenAI Hub supports the adoption of GenAI across various Large Language Models (LLMs) and clouds, without provider lock-in.

Persistent Systems Shares Performance: Persistent Systems shares slipped a little over 2% in last 3-months, gained 57% in last 1-year, surged 206% in last 3-years, and offered whopping returns of 1137% in last 5-years. The 52-week high price of Persistent Systems shares on BSE is Rs 4489.93 apiece (as on 19/02/2024) and 52-week low price is Rs 2318.83 apiece, respectively. The 52-week high price of Persistent Systems shares on BSE is Rs 4489.93 apiece (as on 19/02/2024) and 52-week low price is Rs 2318.83 apiece, respectively.

Axis Securities Recommends Buy: According to the analyst, "we believe Persistent is well positioned for encouraging growth given its numerous long-term contracts with the world's leading brands. Improved revenue visibility gives us confidence in the company's continued growth. We assign a 35x P/E multiple to its FY26E earnings of Rs 125.8/share to arrive at a TP of Rs 4,350/share. Hence, we recommend a BUY rating on the stock."

How To Become Eligible For Persistent Systems Dividend? Record date plays key role in deciding eligibility of shareholders for obtaining dividend. Traders whose name reflect in company's shareholders record as on the record date will be eligible to earn dividend declared by the company. Record date is the specific day on which a company confirms the list of shareholders eligible for its dividend distribution. Persistent Systems set July 9 as the record date for final dividend.

Persistent Systems Ltd Stock Split: Earlier this year on March 13, 2024, Persistent Systems set April 1, 2024 as the 'Record Date' for determining the entitlement of Equity Shareholders for the purpose of Sub-Division/Split of existing Equity Shares of the Company, such that existing 1 (One) Equity Share having a face value of INR 10 (Ten) each into 2 (Two) Equity Shares of INR 5 (Five) each, fully paid up, ranking pari passu in all respects.

Persistent Dividend History: Persistent Systems announced a total of 31 dividends since May 3, 2010. In last 12 months, Persistent Systems announced an equity dividend of Rs 54.00 per share. At the current share price of Rs 3895.95 per share, Persistent Systems offers a dividend yield of 1.39%. Adjusting for Bonus/Splits the dividend yield is 0.69%, according to Trendlyne.

Persistent Systems Q4: Persistent Systems declared a jump of 25.36% in net profit to Rs 315.3 crore year-on-year for the fourth quarter ended March 31. It announced a jump of 14.9% YoY in its consolidated revenue for the fourth quarter to Rs 2,590 crore.

Disclaimer: The stock has been picked from the brokerage report of Axis Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.