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Share buyback is a capital allocation decision, says Tech Mahindra CFO

Updated : February 21, 2019 12:20 PM IST

Tech Mahindra CFO Manoj Bhat said that the company's shares buyback announcement is a capital allocation decision and it plans to conduct buybacks on an annual basis as done by industry peers.

Further, Bhat said the company will also consider dividend payouts. “We would not like to retain too much excess cash in the company and in line with that the board will consider the quantum of dividend but we will go for dividend plus buyback kind of strategy into the future based on the needs of the business,” he added.

Bhat said the company will always keep some capital available for merger and acquisition opportunities, which is one of the core elements of our strategy.
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