Syntel: An Underrated Mid-Cap Gem
Mon, Sep. 12, 11:00 AM
- 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 (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
Dec. 7, 2012, 4:12 PMSyntel (SYNT) declares $0.06/share quarterly dividend, in line with previous. Forward yield 0.43%. For shareholders of record Dec. 18. Payable Dec. 28. Ex-div date Dec. 14. Additionally, the board declares special dividend of $2.25/share payable with regular dividend. (PR) | Dec. 7, 2012, 4:12 PM
Aug. 29, 2012, 2:50 PMSyntel (SYNT) declares $0.06/share quarterly dividend, in line with previous. Forward yield 0.40%. For shareholders of record Sep 28. Payable Oct 15. Ex-div date Sep 26. (PR) | Aug. 29, 2012, 2:50 PM