Wipro Limited (WIT) Announces Dividend of $0.02

Wipro Limited (NYSE:WIT) announced a dividend on Friday, January 19th, NASDAQ reports. Stockholders of record on Thursday, February 1st will be paid a dividend of 0.016 per share by the information technology services provider on Thursday, February 1st. This represents a dividend yield of 0.00293040293040293%. The ex-dividend date of this dividend is Wednesday, January 31st. This is an increase from Wipro’s previous dividend of $0.01.

Wipro has decreased its dividend by an average of 38.7% per year over the last three years.

Shares of Wipro (NYSE:WIT) opened at $5.56 on Friday. Wipro has a fifty-two week low of $4.50 and a fifty-two week high of $6.40. The firm has a market capitalization of $26,788.52, a P/E ratio of 20.59, a PEG ratio of 2.58 and a beta of 0.74. The company has a current ratio of 2.16, a quick ratio of 2.52 and a debt-to-equity ratio of 0.06.

Wipro (NYSE:WIT) last announced its quarterly earnings data on Friday, January 19th. The information technology services provider reported $0.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. Wipro had a return on equity of 16.09% and a net margin of 15.46%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. research analysts expect that Wipro will post 0.27 earnings per share for the current fiscal year.

Several equities analysts recently commented on WIT shares. Credit Suisse Group downgraded Wipro from a “neutral” rating to a “sell” rating in a research report on Monday. Zacks Investment Research downgraded Wipro from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Sell” and an average target price of $141.50.

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About Wipro

Wipro Limited (Wipro) is a global information technology (IT) services provider. It operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.

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