Quess Corp announces first Dividend Post Listing

Quess Corp, India's leading business services platform and largest employer in the private sector, has declared an Interim Dividend of Rs 7 per share for the Financial Year 2021. This will amount to a payout of Rs 103.38 cr to its shareholders with the record date being fixed as 13th May, 2021. This is Quess' first ever dividend announcement post IPO in July 2016 and aligned with the management's strategy of optimizing shareholder returns.

The Board of the Company has adopted a revised Dividend Distribution Policy which states that the company expects to return approximately one-third of free cash flow to shareholders through dividend and/or share buyback annually.

Mr. Suraj Moraje, Group CEO and Managing Director of Quess Corp, said, "The updated Dividend Policy and the declaration of an Interim Dividend are significant milestones in Quess' journey of creating value for our investors, and a testament to our healthy cash generation. We continue to remain focused on our twin goals of achieving a 20% ROE while organically growing our OCF at 20% CAGR".

Shares of Quess Corp Ltd was last trading in BSE at Rs.627 as compared to the previous close of Rs. 620.4. The total number of shares traded during the day was 6838 in over 627 trades.

The stock hit an intraday high of Rs. 629 and intraday low of 613.9. The net turnover during the day was Rs. 4255081.

Source : Equity Bulls

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