HCL Tech Announces Buyback Programme Of Rs 3500 Crore

HCL Technologies Limited, an Indian multinational IT services company, during early morning hours of Thursday, announced a buyback programme of Rs 3500 crore.

“We are glad about the overall Fiscal 2017 and the quarter performance. Our Cash Flow generation during the year continues to be robust with Net Income to Operating Cash Flow conversion at 112%. Our focus on rewarding shareholders continues with the announcement of Rs 3,500 Crore Buy-back program. Return on Equity continues to be healthy at 27% for the year”, said Anil Chanana, CFO, HCL Technologies Ltd.

The company in its filing to the exchanges also said that the board of directors of the company has declared an interim dividend Rs 6 per equity share of Rs 2 each of the company for the financial year 2017-18.

The payment date of the said interim dividend shall be June 2, 2017.

HCL Technologies (HCL) is a leading global IT services company that helps global enterprises re–imagine and transform their businesses through Digital technology transformation. HCL operates out of 32 countries and has consolidated revenues of US$ 7.0 billion, for 12 Months ended 31st March 2017.

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