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.
Cash generation
Commenting on the dividend issual, Quess Corp Group CEO and Managing Director Suraj Moraje 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,” said Suraj Moraje.
Established in Bengaluru in 2007, BSE listed Quess Corp Limited is India’s leading business services provider. Quess helps large and emerging companies achieve higher productivity and greater work force flexibility at lower costs.
It is made possible through integrated outsourcing and technology offerings. Quess has a team of around 333,000 employees across India, North America, APAC, and the Middle East as on 31st Dec 2020.
