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Review of capital allocation policy
The Board, in January 2019, approved the following for the implementation of Capital Allocation Policy:
A. Buyback of Equity Shares, from the open market route through the Indian stock exchanges,
B.
amounting to 8,260 crore (Maximum Buyback Size) (approximately $1,184 million) at a price not
exceeding 800 per share (Maximum Buyback Price) (approximately $11.46 per share), subject to
shareholders' approval by way of Postal Ballot, and
A Special Dividend of ₹4/- per share (approximately $0.06 per share) resulting a payout of
approximately 2,107 crore (approximately $295 million) (including dividend distribution tax)
C. Post shareholder approval, the buyback through the stock exchange commenced on March 20,
2019 and is expected to be completed by September 2019. During the year ended March 31,
2019, 12,652,000 equity shares were purchased.
After the execution of the above, along with the special dividend (including dividend distribution tax) of *2,633 crore ($386 million) already
paid in June 2018, the Company would complete the distribution of ₹13,000 crore, which was announced as part of its capital allocation
policy in April 2018
*USD/INR exchange rate at 69.78
For details please refer to the press release on January 11, 2019
All numbers are based on IFRS USD consolidated financial statements
Infosys
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