2:1 stock split, Rs 32/share dividend: Persistent Systems shares to trade ex-date next week—Check out record date

Persistent systems stock split date, Persistent Systems dividend 2024 record date: Persistent Systems shares will remain in focus next week as the Pune-headquartered IT company will trade ex-date on Tuesday, January 30.

Persistent Systems dividend

Last week, Persistent Systems, along with its Q3 financial results, announced an interim dividend of Rs 32 per equity share of Rs 10 each for the financial year 2023-24.

"In continuation of the above-referred intimations, we wish to inform you that the Board of Directors at its meeting held on January 20, 2024, has approved payment of an Interim Dividend of INR 32 (INR Thirty-Two only) per Equity Share of INR 10 each for the Financial Year 2023-24," the IT firm said in a regulatory filing dated January 20, 2024.

Persistent Systems dividend 2024 record date

The board fixed January 30 as the record date for the dividend.

Persistent systems stock split date

Persistent Systems also declared a stock split in the ratio of 2:1, meaning shareholders will get two equity shares with a face value of Rs 5 each for every equity share with a face value of Rs 10 each.

Here’s a summary of Persistent Systems’ Q3 results

The IT firm reported an 8.7 per cent sequential increase in consolidated net profit to Rs 286.1 crore for the quarter ended December 31, driven by a strong order book. Its quarterly revenue grew 3.6 per cent on a quarter-on-quarter basis to Rs 2,498.2 crore.

The company's margin, a key measure of profitability, improved by 80 basis points sequentially to 14.5 per cent. Zee Business analysts had pegged Persistent Systems’ quarterly net profit at Rs 280 crore, revenue at Rs 2,498 crore, and margin at 14.2 per cent.

Persistent Systems shares: Past performance

Persistent Systems shares have risen over 80 per cent in the past year, outperforming a rise of around 21 per cent each in the Nifty and Nifty IT indices.

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