Pune, India – November 3, 2016: The Board of Sterlite Tech [BSE: 532374, NSE: STRTECH] 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.
About Sterlite Technologies:
Sterlite Technologies Limited designs, builds and manages smarter data networks for telecoms globally. Sterlite Tech is a pure-play telecom focused business that develops & delivers optical communication products, network & system integration services and software solutions. Sterlite Tech is among the leaders in all its business areas and has operations on a global scale with manufacturing presence in India, China and Brazil. Sterlite Tech aims to transform everyday living by delivering smarter networks. Sterlite Tech is India's only fully integrated provider of optical fibre preforms, optical fibres and cables. With a strong portfolio of over 125 patents, Sterlite Tech is home to India's only Centre of Excellence for broadband research. Projects undertaken by the company include intrusion-proof secure network for the Armed Forces, rural broadband for BharatNet, Smart Cities' development, and establishing high-speed Fibre-to-the-Home (FTTH) networks.
Forward-looking and cautionary statements: Certain words and statements in this release concerning Sterlite Technologies Limited and its prospects, and other statements relating to Sterlite Technologies' expected financial position, business strategy, the future development of Sterlite Technologies' operations and the general economy in India, are forward looking statements. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of Sterlite Technologies Limited, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Sterlite Technologies' present, future business strategies, and the environment in which Sterlite Technologies Limited will operate in the future. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, changes in government policies or regulations of India and, in particular, changes relating to the administration of Sterlite Technologies' industry, and changes in general economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Sterlite Technologies' control, include, but are not limited to, those risk factors discussed in Sterlite Technologies' various filings with the National Stock Exchange, India and the Bombay Stock Exchange, India. These filings are available at www.nseindia.com and www.bseindia.com.