After declaring 700% interim dividend, IT stock trades ex-dividend today

Shares of Sonata Software Ltd started trading ex-dividend on the BSE in Monday’s trading session, a day ahead of the record date for its declared interim dividend that it had announcing with its second quarter earnings for the current fiscal or Q2 FY23. Sonata Software shares were down about 0.3% at ₹512 apiece on the BSE in Monday’s opening deals.

Sonata Software Ltd earlier this month said that its board has also declared an interim dividend of ₹7 per share (700% on par value) for FY 2022-23 and fixed Tuesday, November 1, 2022 as the record date for the purpose of payment of the Interi“We wish to inform you that at the meeting of Board of Directors of the company held on 18th October, 2022, declared an Interim Dividend of Rs. 7 per share (700 % on par value of Rs. 1/-) for the financial year 2022-23. The record date for the purpose of payment of the Interim Dividend will be on Tuesday, 1st November, 2022,” the IT company had informed in an exchange filing with its Q2 results.m Dividend.

The Interim Dividend will be paid to the registered shareholders on or after Monday, 14th November, 2022 through electronic mode or by dividend warrants, as applicable.

For the quarter ended September 2022, the company’s consolidated net profit came at ₹112.7 crore, witnessing a year-on-year (YoY) growth of 24%, on the back of its revenue growing 55% from the year-ago quarter to ₹1,496 crore.

Speaking on the results, Samir Dhir, CEO of Sonata Software said: “The results for the quarter reflect strong growth in our business across our operating markets. We have increased our nearshore delivery presence, most recently developing talent in Ireland, to reach best-in-class talent in every geography we service our clients.”

Sonata Software Limited is a global technology company and is a service provider in business intelligence and analytics, application development management, mobility, cloud, social media, enterprise services, infrastructure management services among others. The IT stock is down more than 21% in 2022 (YTD) so far, whereas it ha declined 20% in a year’s period.

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