Dev IT (DEV) Declares Dividend for Third Consecutive Year, Shares Surge 4%

<ul>
    <li>Small-cap IT stock Dev Information Technology (Dev IT) has declared a 5 percent final dividend for its shareholders.</li>
    <li>This marks the third consecutive year that Dev IT has declared a dividend, showcasing its consistent financial performance.</li>
    <li>"This dividend declaration is a testament to our dedication to sharing our profits with our valued shareholders," stated the company's board of directors.</li>
</ul>
<p><strong>Dev IT declares a 5% final dividend for the third consecutive year, reflecting strong financial health and shareholder commitment.</strong></p>
<h2><strong>Dev IT Dividend Details</strong></h2>
<p>The small-cap IT company, Dev IT, has once again demonstrated its commitment to its shareholders. The Board of Directors has recommended a final dividend of 5% (₹0.25 per equity share) for the year ended 31st March 2024, subject to shareholder approval in the upcoming Annual General Meeting. This dividend declaration underscores the company's dedication to sharing its profits while maintaining a robust financial position.</p>
<h3><strong>Dev IT Dividend History</strong></h3>
<p>This is the IT company's third consecutive year of declaring a dividend. In 2023, the company declared a final dividend of ₹0.25 per share (5%). The stock traded ex-dividend on 22nd September 2023 to finalize the list of eligible shareholders. Similarly, in 2022, the stock traded ex-dividend on 22nd September for a final dividend of ₹0.50 per share (10%).</p>
<h2><strong>Dev IT Q4 Results 2024</strong></h2>
<p>The company board declared a 5 percent final dividend for FY24 while discussing and approving the Q4 results for 2024. Dev IT announced a total income of ₹38.13 crore for Q4FY24, compared to ₹30.97 crore in Q4FY23. This represents a year-over-year increase of over 23%, indicating strong revenue growth and the potential for higher dividends in the future.</p>
<h2><strong>Dev IT Share Price Jumps</strong></h2>
<p>Dev IT's strong financial performance in Q4 2024, coupled with the announcement of a final dividend for FY24, positively impacted its share price. The stock opened higher and reached an intraday high of ₹122.65 on NSE, marking a significant 4 percent intraday rise from the previous close. This market response highlights investor confidence in Dev IT's financial strength and growth potential.</p>
<h3><strong>Conclusion</strong></h3>
<p>Dev IT's consistent dividend declarations and robust financial performance underscore its commitment to shareholder value. The company's strong Q4 results and positive market response suggest a promising future outlook. Investors should consider these factors when evaluating Dev IT as a potential investment.</p>