TCS announces interim and special dividend of ₹75 per share for FY23. Details here
1 min read . Updated: 09 Jan 2023, 05:46 PM IST
Premium- TCS Q3 earnings: The third interim dividend and the special dividend will be paid on 3 February, 2023, to the equity shareholders of the company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on 17 January, 2023, which is the record date fixed for the purpose
IT bellwether Tata Consultancy Services (TCS) on Monday announced a dividend and special interim dividend of ₹75 per equity share for fiscal FY23. Last month, the IT giant had fixed 17 January as the record date to determine eligible shareholders for the third interim dividend.
“We would like to inform you that at the Board Meeting held today, the Directors have declared a third interim dividend of ₹8 and a special dividend of ₹67 per Equity Share of ₹1 each of the Company," the company informed in an exchange filing.
The third interim dividend and the special dividend will be paid on 3 February, 2023, to the equity shareholders of the company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on 17 January, 2023, which is the record date fixed for the purpose.
TCS kickstarted the third quarter earnings season for FY23. TCS' net profit for the third quarter rose by nearly 11% to ₹10,846 crore as against ₹9,806 crore in the year-ago quarter.
The IT giant's revenue came in at ₹58,229 crore, up 19% YoY, +13.5% YoY in constant currency (cc).
The company has declared an equity dividend amounting to ₹45.00 per share in the last one year. At the current share price, this results in a dividend yield of 1.36%, according to data by Trendlyne.
The company has a strong track record of distributing dividends to its shareholders. Last year in October, TCS had announced a second interim dividend of ₹8 per equity share for the fiscal year FY23.
The stock had hit a 52-week high on 18 January, 2022 at ₹4,045.50 and a 52-week low on September 26, 2022 at ₹2,926. In the past one year, the stock has fallen ₹544.40, or 14.12% compared to a 1.77% gain in Sensex.
The share price of TCS jumped today ahead of the earnings announcement. Shares of TCS surged 3.35% to settle at ₹3,319.70 apiece on the BSE on Monday.
