Infosys to give 120% interim dividend

BANGALORE: Buoyed by steady growth and a healthy bottomline in the first half (April-September) of this fiscal (2007-08), IT bellwether Infosys Technologies Ltd has declared an interim dividend of Rs 6 per share, a whopping 120 per cent over each share's par value of Rs 5.

In a notification to the stock exchanges here, the company said the interim dividend payout is 20 per cent more than the amount distributed to shareholders for the same period (H1) of last fiscal (FY 2007), which was Rs 5 per share or 100 per cent on par.

The company has made a provision of Rs.3.43 billion towards payment of interim dividend at the end of second quarter (July-September) in its consolidated profit and loss account, compared to Rs 2.78 billion in the corresponding period of the last fiscal.

Tax liability on the interim dividend is Rs 580 million in this fiscal, compared to Rs 390 million in the same period of last fiscal.