Infosys has returned 86% of free cash flow to shareholders in the fiscal year FY23. This included dividend payout and buyback program as well. The company's free cash generation stood strong led by robust collections in Q4. These are done under the Infosys capital allocation policy.
As per the financial results, for FY23, the company's board recommended a final dividend of ₹17.50 per share. The company had earlier paid a dividend of ₹16.50 per equity share.
Together, Infosys paid a total of ₹34 per equity share in FY23 -- rising by 9.7% from the previous fiscal FY22.
Overall, the company announced a total dividend of approximately ₹14,200 crore in FY23.
Further, Infosys completed the an open market share buyback on February 13, at an average price of approximately ₹1,539 per share (compared to a maximum Buyback Price of ₹1,850 per share). Consequently, the share capital of the company has been reduced by 1.44%. The buyback was to the tune of ₹9,300 crore.
Infosys said, "Including the recently concluded buyback and final dividend for FY23, the company has returned approx. 86% of Free Cash Flow to shareholders under the current capital allocation policy."
Meanwhile, Nilanjan Roy, Chief Financial Officer. “Free cash generation in Q4, led by robust collections, was strong. Executing on our capital allocation policy, we successfully completed the share buyback and have proposed a final dividend of `17.50 for FY23"
By end of Q4FY23, the company's free cash flow stood at ₹5,844 crore up by 1.3% YoY. While FCF conversion is at 95.3% of net profit.
For the full year FY23, Infosys' free cash flow stood at ₹20,443 crore -- up by 10.3% YoY. FCF conversion was at 84.8% of net profit.
In Q4FY23, The IT giant's Q4 PAT came in at ₹6,128 crore down by nearly 16% QoQ but up by nearly 6% YoY. Similarly, revenue from operations dipped by 2.2% QoQ but was higher by 16% YoY to ₹37,441 crore in the quarter.
It said, Q4 year-on-year growth was 8.8% and the sequential decline was 3.2% in constant currency terms. The operating margin for the quarter was 21.0%. Continuing the recent
trend, attrition declined further in Q4.
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April 13, 2023 at 08:14PM
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Infosys returns 86% of FCF to shareholders in FY23 including dividends, buyback - Mint
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