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This Smallcap IT Inventory Declares 700% Interim Dividend, Fixes File Date; Do you Personal?

Sonata Fixes File Date: Sonata Software program Ltd, whereas saying its second-quarter earnings for the present fiscal 12 months or Q2 FY23, mentioned that its board has additionally declared an interim dividend of Rs 7 per share for FY 2022-23 and has additionally mounted the report date for the aim of the dividend.

“We want to inform you that on the assembly of the Board of Administrators of the corporate held on 18th October, 2022, declared an Interim Dividend of Rs. 7.00 per share (700 per cent on the par worth of Rs. 1/-) for the monetary 12 months 2022-23. The report date for the aim of fee of the Interim Dividend shall be on Tuesday, 1st November, 2022,” the Indian IT firm knowledgeable in an trade submitting on Wednesday.

A dividend means the distribution of surplus from the income by a listed firm to its shareholders. Sonata Software program has a superb dividend observe report with a excessive dividend yield.

Trendlyne information recommend that since November 2000, the corporate has declared 46 dividends. Within the final FY, the agency introduced a 2100 per cent or Rs 21 per share, that on the present share value, quantities to a dividend yield of shut to five per cent.

The Interim Dividend shall be paid to the registered shareholders on or after Monday, 14th November, 2022 via digital mode or by dividend warrants, as relevant.

“Pursuant to the amendments launched within the Revenue Tax Act, 1961 (Act), vide Finance Act, 2020, w.e.f. April 1, 2020, the Firm shall be required to withhold taxes on the prescribed charges on dividend paid to the shareholders. Therefore, the Interim Dividend declared shall be paid after deducting tax at supply (‘TDS’) in accordance with the provisions of the Revenue Tax Act, 1961,” it added.

Sonata Software program Restricted is a world expertise firm and is a service supplier in enterprise intelligence and analytics, utility growth administration, mobility, cloud, social media, enterprise companies, and infrastructure administration companies amongst others. The IT inventory is down greater than 22 per cent in 2022 (YTD) to date.

For the quarter ended September 2022, the corporate’s consolidated web revenue got here at Rs 112.7 crore, witnessing a year-on-year (YoY) development of 24 per cent, on the again of its income rises 55 per cent from the year-ago quarter to Rs 1,496 crore.

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