Cognizant: First at the starting line

Unlike Indian IT services players, Cognizant has been much more aggressive in its acquisition drive

Nasdaq-listed information technology (IT )solutions and services firm Cognizant Technology Solutions’ share repurchase programme of $3.4 billion over the next two years has proved a precursor to the buyback programmes announced by some of the Indian IT players.

While Cognizant has been repurchasing its shares from time to time, this is the first time the company will also give dividends to its shareholders. Cognizant will give out a regular quarterly cash dividend of $0.15 per share from the second quarter of 2017 (April-June).

Cognizant, during the third quarter (July-September; Q3) of 2016, had stated it had repurchased just over 2.5