The third interim dividend and the special dividend shall be paid on February 3 to the equity shareholders of TCS
Tata Consultancy Services (TCS), India’s largest IT services company, on Monday announced a third interim dividend of Rs 8 and a special dividend of Rs 67 per equity share of Rs 1 each. In the last quarter ended September 2022, the company had declared its second interim dividend of Rs 8 per equity share.
“We would like to inform you that at the board meeting held today (Monday, January 9), the directors have declared a third interim dividend of Rs 8 and a special dividend of Rs 67 per equity share of Rs 1 each of the company,” TCS said on Monday in a BSE filing.
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The third interim dividend and the special dividend shall be paid on February 3 to the equity shareholders of TCS whose names appear on the company’s register of members or in the records of the depositories as beneficial owners of the shares as on Tuesday, January 17, 2023, which is the record date fixed for the purpose, according to the BSE filing.
TCS’ total shareholder payout stood at Rs 33,297 crore during the current fiscal till date.
Companies declare interim dividend payouts for shareholders, based on their earnings, every quarter; final dividends at the year-end; and an occasional special dividend.
For the December 2022 quarter, TCS has reported a consolidated net profit of Rs 10,846 crore, a jump of 11 per cent on a year-on-year basis. During October-December 2022, TCS’ revenue rose 19.1 per cent year-on-year to Rs 58,229 crore.
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The company’s operating margin during October-December 2022 stood at 24.5 per cent, which a contraction of 50 basis points (100 bps is equal to 1 percentage point) as compared to last year. Its net margin during the quarter stood at 18.6 per cent.
TCS’ total dividend per share stood at Rs 75 per share during the December 2022 quarter, including Rs 67 as special dividend. Its record date stood at January 17, 2023, and the payment date of Febuary 3, 2023.
Samir Seksaria, chief financial officer of TCS, said, “Improved productivity, currency support and abating supply-side challenges helped expand our operating margin in Q3. This gives us greater confidence in our ability to steer our profitability towards our preferred range, while continuing to invest in building newer capabilities to support our growth and market share gains.”
Ahead of the results announcement, shares of Tata Consultancy Services (TCS) on Monday jumped Rs 107.7, or 3.35 per cent, to close at Rs 3,319.7 apiece on the BSE.
