TCS Dividend Payment Date 2023: Check all the details here!

Regarding financial reports on October 11, 2023, the board of directors of Tata Consultancy Services Ltd (TCS) declared its second interim dividend, paying out ₹9 per equity share of ₹1 each. A comparable interim dividend of  ₹9 per equity share of ₹1 each was issued by TCS after the release of its first quarter results in July 2023. The mentioned TCS Dividend Payment Date 2023 has been set for Thursday, October 19, 2023. According to a filing by TCS, the dividend will be paid on Tuesday, November 7, 2023, to the equity shareholders of the firm whose names are on the register of members.

TCS Dividend Payment Date 2023

Apart from financial performance during the second quarter and post-result discussion, investors’ attention had been primarily focused on share buybacks and distribution among others. The business did not let investors down by announcing a repurchase at ₹4150 per share and a ₹9 interim dividend. TCS stock last traded for ₹3609 rupees on the Bombay Stock Exchange on Wednesday. Notably, on October 10, 2023, on the BSE, the shares of TCS had reached a 52-week high of ₹3680 in expectation of Bonus and TCS Dividend Payment Date 2023.

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The largest IT services provider in the nation, Tata Consultancy Services (TCS), a member of the Tata group, paid a TCS Dividend Payment Date 2023 of Rs. 9 per equity share on Wednesday. This represents a distribution of Rs. 1 face value times Rs. 9 in dividends. In a regulatory statement, the business stated: We would like to inform you that at the Board Meeting held, the Directors have declared an interim dividend of Each Equity Share of the Company is worth Rs. 9.

Dividend history for Tata Consultancy Services Ltd

With a dividend payout rate of 3.59 percent, TCS paid a total dividend for FY23 of Rs 33,306 crore. It distributed dividends of Rs 7,686 crore in FY22, Rs 8,510 crore in FY21, and Rs 25,125 crore in FY20. In value terms, TCS paid a dividend of Rs 115 per share in FY23 as opposed to dividends of Rs 43 in FY22, Rs 38 in FY21, and Rs 72 in FY20.

Sector Software And Services
Industry IT Consulting And Services
Company Listed On NSE, BSE
NSE Script TCS
BSE Script 532540
Dividend Announced Date 29 September 2023
Dividend Record Date 19 October 2023
The dividend Will Be Paid on  November 7, 2023
Dividend Type Interim

Prior to this, the biggest IT company by revenue recorded an increase in net profit of 16.83% year over year (YoY) for the June quarter, coming in at Rs 11,074 crore compared to Rs 9,478 crore in the same period the previous year. The profit growth rate was generally in line with analyst projections of 15% to 20%.

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The dividend was announced after the market closed. TCS stock fell 0.36% to close the day at Rs 3,260.20 BSE.

TCS Dividend Payment Date

TCS Q1 results 2023

For the quarter ended June 30, 2023 (Q1FY24), Tata Consultancy Services (TCS) declared a consolidated net profit of Rs 11,074 crore on July 12. On a year-over-year (YoY) basis, the profit increased by 16.8%, while on a quarter-over-quarter (QoQ) basis, it decreased by 2.79 %. Operating income of Rs 59,381 crore, an increase of 12.5% year over year (YoY). Sequentially, revenue increased by 0.37 percent.

The final result exceeded experts’ predictions. While Nirmal Bang Securities anticipated the profit after tax (PAT) to be Rs 10,855.5 crore, Zee Business Research assessed the net profit to be Rs 10,900 crore. According to the corporation, revenue increased 7% year over year in constant currency (CC) terms.

TCS Q2 results 2023

TCS’ net profit increased by 2.8% to Rs 11,380 crore in Q2 FY24 from Rs 10,465 in the same quarter last year. The company’s consolidated revenue for the September quarter increased from Rs 56,274 crore in the same period the previous year to Rs 60,698 crore. The business’s costs also increased, from Rs 42,178 in the same period last year to Rs 45,368 this year.

TCS to Consider Share Buyback 

IT company performance is a worry despite the global downturn, say stock market analysts. Despite sluggish discretionary expenditure across various verticals, TCS’s outcome expectations remained mild. 

TCS won large deals this quarter, but its profitability will be delayed, therefore the business is rewarding investors with dividends and buybacks to boost shareholder confidence. Buybacks boost firm confidence, while dividends reward shareholders.

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TCS Reported a Net Profit 

When compared to the same quarter last year, TCS’s net profit increased by 8.7% to ₹11,342 billion, or ₹11,342 billion, for the September quarter. The IT giant posted a profit of ₹11,074 crore in the preceding June quarter, which resulted in a sequential increase of 2.4% in the overall net profit.

TCS Share Price NSE, TCS Share price BSE

The stock dropped 14.9 rupees (or 0.5%) for the day to close at Rs 3,257 a share on BSE. TCS shares on the NSE closed at Rs 3,261 a share, down Rs 11.5 or 0.4% for the day.

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