Infosys Does it Again
Professor Sadagopan writes on his site that Infosys does it again – pays out the single largest dividend payment ever by an Indian private sector employer. In the AGM held on 13th June 2004 Infosys formalized its earlier commitment to pay 2,590% dividend payment, as a special gesture to its shareholders on the historic occasion of its crossing the Billion Dollar mark.
It is one more feather to Infosys cap – the first company to start ESOP, the first to list in NASDAQ, the first to announce quarterly results on time every time, the first to move to GAPP accounting, the first to have international professionals on its Board and compensate them as per global market conditions, the first to hire from “best in class†campuses of Harvard & MIT etc., and the list goes on. It is a proud moment for private sector (in the light of politicians “going back†to public sector, it clearly demonstrates that what India needs is “good†companies, ownership is incidental, if at all politicians are serious they should make “public sector companies†go “public†by serving citizens and not move towards making them serve “private interests†of politicians and bureaucrats).
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