Stock Split: Shares of Persistent Systems are trading ex-split today, Thursday, March 28, 2024. This is the first-ever stock split by the largecap IT company.
A stock split is one of corporate actions wherein a company splits the face value of equity shares in a certain ratio. A split is done to infuse liquidity in the stock. Once the split takes effect, the market price is adjusted in the ratio of the sub-division.
According to exchange data, Persistent Systems has announced to split equity shares in the ratio of 2:1. It means that each stock will split into two equity shares.
The current face value of each stock of Persistent Systems is Rs 10. After the 2:1 split, the face value of each stock would be Rs 5.
After price adjustment, Persistent Systems' shares opened at Rs 4,069. During the session, the stock touched an high of 4,096.65 and Rs 4,000 apiece on NSE, so far.
Persistent Systems shares have a 52-week range of Rs 8,979.85 - Rs 3,959.25 on BSE. The company, which is a constituent of S&P BSE 100, commands a market cap of Rs 61,363.12 crore as on March 28, according to BSE website.
Persistent Systems in January this year paid a dividend of Rs 32 on each stock to its investors. In 2023, the company paid dividend thrice - Rs 12 and Rs 10 in July and Rs 28 in January.
Back in 2022 and 2021, the company had rewarded its investors by paying dividend twice in each year - Rs 31 and Rs 20, respectively.
Its shares, according to BSE Analytics, have declined 1.9 per cent in the past week, and 4.21 per cent in the past month. On an year-to-date basis, the IT company's shares gained 9.92 per cent. Over three months and six months period, the scrip has yielded returns of 40.37 per cent and 81.92 per cent, respectively.
Looking back further, the stock more than quadrapled investors' money in the past three years, rising over 341 per cent. In five and 10 years, the counter yielded gains of 1167.34 per cent and 1444.21 per cent, respectively.