NEW DELHI: The Board of Sterlite Tech has approved an Interim Dividend of 25% ie Rs 0.50 per share of Rs 2 each for the year 2016-17. The record date will be on Friday, November 11, 2016. The initiative is in line with the Company’s dividend distribution policy of payout of around 30% of Consolidated PAT.
Sterlite Technologies Ltd, well known in the telecom sector to design, build and manage data networks, continues to see expanding global demand of Optical Fibre and strong domestic focus on strengthening the broadband infrastructure.
“World and domestic trends around expanding data consumption has brought focus onto smarter data networks as a strong differentiator in terms of quality network availability and longevity. The networks of tomorrow need to have high speed, very low latency and capability to handle large quantum of data and Sterlite Tech’s Smarter Networks deliver these,” said Dr Anand Agarwal, CEO, Sterlite Technologies, while endorsing the Board’s confidence in the Company’s growth. “Our end-to-end capabilities, as the preferred broadband partner across products, services and software, sits central to this revolution,” he highlighted.
The Telecom industry is transforming to adopt to the data era through 4G and 5G technologies, FTTH deployments and expanding infrastructure of the telecom service providers. Government driven programmes like Smart Cities and BharatNet are also creating an environment for mega broadband infrastructure rollouts.