- Payable on October 3 to shareholders of record at close on September 22.
- Common stock will start trading ex-dividend on October 4.
- Will be funded through dividends by U.S. subsidiaries, a one-time $1.24B cash repatriation from foreign subsidiaries and borrowings under a new senior credit facility. Expands borrowing capacity to $500M and satisfies $200M existing senior credit facility.
- One-time tax expense of $264M expected in Q3 due to repatriated cash.
- Syntel (NASDAQ:SYNT +11%) revises previous 2016 EPS of $2.55-$2.70 to a loss per share of $0.60-$0.75. Revenue and margin outlook remains unchanged.
- Press release
- 8-K