Oracle Financial Services spurts after hefty interim dividend

Oracle Financial Services Software rose 6.97% to Rs 3,950 at 13:44 IST on BSE after the company said its board declared an interim dividend of Rs 485 per equity share.

The announcement was made during trading hours today, 12 September 2014.

Meanwhile, the BSE Sensex was down 11.04 points, or 0.04%, to 26,984.83.

On BSE, so far 40,000 shares were traded in the counter, compared with an average volume of 4,574 shares in the past one quarter.

The stock hit a high of Rs 4,080 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 3,700 so far during the day. The stock hit a 52-week low of Rs 2,775 on 20 May 2014.

The stock had outperformed the market over the past one month till 11 September 2014, rising 7.05% compared with 5.79% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 24.84% as against Sensex's 5.97% rise.

The large-cap company has an equity capital of Rs 42.08 crore. Face value per share is Rs 5.

Based on the ruling market price, the stock offers a dividend yield of 12.28% on an interim dividend of Rs 485 per equity share.

Oracle Financial Services Software's consolidated net profit rose 27% to Rs 394 crore on 20% growth in revenue to Rs 1073 crore in Q1 June 2014 over Q4 March 2014.

Oracle Financial Services Software is a world leader in providing products and services to the financial services industry and is a majority-owned subsidiary of Oracle Corporation.

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