IT Company Oracle Financial Services Software announces record 240 rupees dividend after march 2024 q4 results

Dividend Stock: The stock of this IT company has made its shareholders rich by announcing the biggest dividend of the decade. The name of this IT sector company is Oracle Financial Services Software. The company has filled the pockets of its shareholders by declaring a huge dividend of Rs 240. The thing to note is that this is the biggest dividend being given by the company in the last ten years. Along with the dividend, Oracle Financial Services has also announced its record date.

What is the record date of dividend?

Oracle Financial Services Software has announced the highest dividend of the decade after releasing its March 2024 quarter results. The company is giving a dividend of Rs 240 to its shareholders. Earlier, the company had announced a handsome dividend of Rs 485 in the year 2014. The company has fixed the record date for dividend of Rs 240 on May 7. In such a situation, only those shareholders who hold shares till this day will be able to get the benefit of dividend. The company has also informed in its exchange filing that the dividend amount will be credited to the shareholders by May 23.

Here is the history of dividend of the company-

Earlier, Oracle Financial Services Software had announced a dividend of Rs 225 for the year 2023. Whereas in the year 2022, Rs 190 and in the year 2021, the company had given Rs 200 as dividend to its shareholders. The special thing is that within only 10 years from 2014 till now, the company has distributed a dividend of Rs 2100 to the shareholders.

How were the company's quarterly results?

Recently the company has released the results for the quarter of March 2024. In the March quarter, the company's net profit has seen a decline of almost one quarter and it has fallen to Rs 560.10 crore. The company's income has increased by 11.70 percent to Rs 1,642.40 crore in the March quarter. At the same time, the EBIT margin of the company has increased by 40 basis points to 44.70 percent.

rise in shares

After the announcement of huge dividend of Rs 240, a tremendous rise has been registered in the shares of this IT company. The company's shares closed at Rs 7362.65 on Wednesday. Today, due to profit booking, there is a decline of Rs 113.90 in the shares of the company, currently they have reached Rs 7,248.75. There has been a tremendous rise of 112 percent in the company's shares and they have increased to Rs 3832.80 in a year.

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