Syntel's corporate headquarters facility is located in Troy, Michigan, which is in southeastern Michigan, about 20 miles from Detroit. The mailing address is:
525 E. Big Beaver Road, Suite 300
Troy, MI 48083
Syntel, Inc. was established in 1980 as a provider of software services. Originally called "Systems International" with earnings of $30,000 its first year, Syntel has grown into a $966 million corporation, which now has over 21,800 employees in over two dozen offices and Global Development Centers worldwide, including three campuses in Pune, Mumbai, and Chennai, India.
Syntel became a public company in August 1997 when it sold 3.45 million shares in its Initial Public Offering (IPO).
Syntel's shares trade under the symbol SYNT on the NASDAQ stock exchange.
In 1998, Syntel's board of directors declared a 3-for-2 stock split of the Common Stock of the Company. An additional share of Common Stock was distributed for each two shares of Common Stock outstanding.
In October 2014, Syntel's Board of Directors declared a 2-for-1 split of its outstanding common shares. An additional share was distributed for every share of Common Stock outstanding.
Quarterly dividend payments were announced on July 29, 2003 and were discontinued in December 2012. Syntel paid a quarterly cash dividend of $0.06 per share per quarter from Q3 2003 until Q4 2012.
In addition to the regular quarterly dividend, Syntel has paid a special, one-time dividend to Syntel shareholders in the amounts of $1.25 per share (August 2003), $1.50 per share (March 2005), $1.25 per share (August 2006), $0.50 per share (December 2008) and $0.50 per share (December 2010), and $2.25 per share (December 2012).
Syntel also paid a special, one-time cash dividend of $15 per share on October 3, 2016, to shareholders of record at the close of business on September 22, 2016.
Syntel reports on a calendar year: January 1st through December 31st.
Yes. Syntel is a minority-owned business enterprise (MBE) that has been certified by the Michigan Minority Supplier Development Council.
On July 20, 2017, Syntel, Inc. announced a stock repurchase plan under which the Company may repurchase shares of common stock with a total value not to exceed $60,000,000.00. The stock repurchase plan is effective on July 25, 2017 and is authorized to continue through December 31, 2018.
Repurchases under the Company's new program may be made in open market or privately negotiated transactions in compliance with Securities and Exchange Commission Rule 10b-18, subject to market conditions, applicable legal requirements, and other relevant factors.
For more information on Syntel's stock repurchase plan, click here.
Currently Syntel does not offer a direct stock purchase plan. Contact your local brokerage to find out how you can own stock in Syntel.