India’s second largest IT company Infosys on Saturday said it is in the process of finalising a suitable ‘distribution mechanism’ for its Rs 13,000-crore capital allocation plan to shareholders for this fiscal. Speaking at the 36th AGM of the company, Chairman R Seshasayee said Infosys is committed to execute the capital allocation policy announced on April 13, 2017 ‘in a timely manner’.
“As it has a large shareholder base and is listed in multiple countries, the manner of distribution to shareholders requires compliance under laws of several jurisdictions,” he said. The co, he added, is in the process of finalising a ‘distribution mechanism’ that complies with the applicable regulatory requirements in the ‘best interest’ of all shareholders.