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Wednesday
November 2018
11:56 PM IST
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1984 anti-Sikh riots: Delhi court awards death penalty to convict, life term to another        SC expresses displeasure over leak of CBI Director Alok Verma's confidential reply        Four killed in Chicago shooting        Ivanka Trump used personal mail for government business        Women's World Boxing Championships: Mary Kom, Sonia, Lovlina, Simranjit, Enter Semi-Finals        Netherlands draw 2-2 with Germany to reach Nations League semis        Ink Thrown At Gujarat Lawmaker Jignesh Mevani, Kanhaiya Kumar        Can't Stop Salary For Not Linking Bank Account To Aadhaar, Centre Told        Germany says will bar 18 Saudis over Khashoggi murder        Google best Search engine, we keep Safari safe: Tim Cook        Zverev shocks Djokovic to win ATP Finals        England finish second in Group, to face in-form India in semis        Fresh protest in Sabarimala        Rahul Gandhi Challenges PM Modi For Debate On Rafale Deal        New bill likely to be introduced in Parliament to rechristen names of Bombay, Calcutta and Madras High Courts        TM Krishna 'celebrates democracy' at Delhi concert        Death toll rises to 76 in California fire as Trump visits        Sri Lanka president Sirisena holds all-party meeting talks to end political crisis        Pankaj wins grand double, extends world title tally to 21        England win second Test against Sri Lanka by 57 runs        
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Business News
Infosys stable and on verge of something momentous: Nilekani
 
Bengaluru, Jun 23 (PTI) Infosys Non-Executive Chairman Nandan Nilekani today said the company has taken several steps during the year to remedy the concerns raised on the matter of stability and is on the verge of something momentous.

"When I stepped for the second time into Infosys in August last year, one of the concerns that you raised was about the company's stability. We have taken several steps during the year to remedy this," he said at the company's 37th Annual General Meeting here.

"We have a very stable management team and board, and everybody is united, and agrees that we are really on the verge of something momentous. The focus is now on relentless execution," he added.

Infosys faced months of protracted standoff between its founders led by N R Narayana Murthy and the previous management over issues of corporate governance and compensation to former executives.

The tussle had led to the sudden resignation of the then CEO Vishal Sikka in August last year, followed by R Seshasayee and some other directors.

Speaking at the AGM, Nilekani assured that the company would spare no effort to do all it can to realise its aspirations, with the generous support of all stakeholders and his colleagues on the board.

It was the resilience of this team that helped Infosys get through some rather testing times in the year gone by and helped it deliver strong financial performance, he said.

"I am grateful for this and for the privilege and opportunity to serve this iconic company once again," he added.

Nilekani further said even as the company brings in new digital capability to its landscape, it also has a gameplan to bring its traditional core systems into the modern era.

Hence, he said a very important aspect of the company which it is doing is energising the core for its clients in as big a way as it is powering its digital transformation.

The company has evolved from leveraging classic software development methods to approaching software creation in more agile and digital ways, Nilekani said.

The board has recommended a final dividend of Rs 20.

50 per share for the year ending March 31, 2018, he said.

The Board also has recommended a special dividend of Rs 10 per share, he added.

In October 2017, the company paid an interim dividend of Rs 13 per share, Nilekani said.

The total dividend for this year, excluding the special dividend, is Rs 33.50 per share and including the special dividend, is Rs 43.50 per share, he added.

"Total dividend paid last year was Rs 25.75 per share," he said.


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