<p class="title">Signalling a deviation from the historical policy of maintaining huge cash reserves, Infosys, India's second largest IT services company, on Friday decided to distribute up to Rs 13,000 crore ($2 billion) to its shareholders.</p>.<p class="bodytext">"The Board has decided to retain the current policy of returning up to 70% of the free cash flow of the corresponding financial year," the company said in a statement.</p>.<p class="bodytext">Of the Rs 13,000 crore, the company has announced a special dividend of Rs 10 per share ($0.15 per ADR) resulting in a payout of approximately Rs 2,600 crore (approximately $400 million) in June 2018.</p>.<p class="bodytext">It has also identified an amount of up to approximately Rs 10,400 crore, to be paid out to shareholders for the financial year 2019.</p>.<p class="bodytext">The company reported a net profit of Rs 3,690 crore for the fourth quarter ended March 31, 2018, a rise of 2.4% year-on-year.</p>.<p class="bodytext">It also announced sale of its subsidiaries - Panaya and Skava (along with Kallidus).</p>
<p class="title">Signalling a deviation from the historical policy of maintaining huge cash reserves, Infosys, India's second largest IT services company, on Friday decided to distribute up to Rs 13,000 crore ($2 billion) to its shareholders.</p>.<p class="bodytext">"The Board has decided to retain the current policy of returning up to 70% of the free cash flow of the corresponding financial year," the company said in a statement.</p>.<p class="bodytext">Of the Rs 13,000 crore, the company has announced a special dividend of Rs 10 per share ($0.15 per ADR) resulting in a payout of approximately Rs 2,600 crore (approximately $400 million) in June 2018.</p>.<p class="bodytext">It has also identified an amount of up to approximately Rs 10,400 crore, to be paid out to shareholders for the financial year 2019.</p>.<p class="bodytext">The company reported a net profit of Rs 3,690 crore for the fourth quarter ended March 31, 2018, a rise of 2.4% year-on-year.</p>.<p class="bodytext">It also announced sale of its subsidiaries - Panaya and Skava (along with Kallidus).</p>