Sonata set record date: sonata Software Limited, while announcing its second quarter earnings for the current financial year or Q2 FY23, said that its board has also declared an interim dividend of Rs 7 per share for the financial year 2022-23 and the record date for the purpose has also been determined. Dividend.
“We would like to inform you that in the meeting of the Board of Directors of the Company held on 18th October, 2022, an interim dividend of Rs.7.00 per share (700 per cent at par of Rs.1/-) for the financial year 2022-23 has been declared. The record date for the purpose of payment of interim dividend will be Tuesday, November 1, 2022,” the Indian IT company informed in an exchange filing on Wednesday.
Dividend means the distribution of surplus out of profits by a listed company to its shareholders. Sonata Software has a good dividend track record with high dividend yield.
Trendline figures show that the company has declared 46 dividends since November 2000. In the last financial year, the firm declared 2100 per cent, or Rs 21 per share, which, at the current share price, equates to a dividend yield of around 5 per cent.
The interim dividend shall be paid to the registered shareholders on or after Monday, November 14, 2022, through electronic mode or by dividend warrant, as applicable.
“As per the amendments introduced in the Income Tax Act, 1961 (Act), under the Finance Act, 2020, with effect from 1st April, 2020, the company will have to withhold taxes at the prescribed rates on dividends paid to shareholders. Therefore, the declared interim dividend will be paid after deducting tax at source (‘TDS’) as per the provisions of the Income Tax Act, 1961.”
Sonata Software Limited is a global technology company and service provider in business intelligence and analytics, application development management, mobility, cloud, social media, enterprise services and infrastructure management services. The IT stock is down more than 22 percent so far in 2022 (YTD).
For the quarter ended September 2022, the company’s consolidated net profit came in at Rs 112.7 crore, registering a year-on-year (YoY) growth of 24 per cent, a 55 per cent increase over its revenues from the year-ago quarter. 1,496 crores.
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