TCS declares final dividend of ₹24 per share for FY23. Key details here | Mint
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Business News/ Markets / Stock Markets/  TCS declares final dividend of 24 per share for FY23. Key details here
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TCS declares final dividend of ₹24 per share for FY23. Key details here

In FY22 alone, TCS paid a total dividend of 4300% aggregating to ₹43 per equity share. The company's shareholders pay-out stood at ₹38,010 crore up by 12.2% yoy. The pay-out included dividends (including unpaid dividends), buyback, and taxes.

Prior to the final dividend, TCS has already paid a total of three interim dividends to the tune of 9100% to shareholders for FY23. Premium
Prior to the final dividend, TCS has already paid a total of three interim dividends to the tune of 9100% to shareholders for FY23.

IT giant Tata Consultancy Services (TCS) has declared a final dividend for FY23 to the tune of 24 per equity share. TCS is among the kings of paying high dividends to its shareholders for the past years. In FY23, TCS has given one of the highest dividends.

The company will announce the record date for the final dividend in due course.

In its financial results filing on exchanges, TCS said, "the Directors have recommended a Final Dividend of 24 per Equity Share of 1 each of the Company which shall be paid/dispatched on the fourth day from the conclusion of the 28th Annual General Meeting, subject to the approval of the shareholders of the Company."

Further, TCS said shareholders' payout comes around 45,602 crore in the form of dividends in FY23.

Prior to the final dividend, so far in FY23, TCS has paid three interim dividends to the shareholders. The latest was an interim dividend of 8 per share and a special dividend of 67 per share --- for which, the stock turned ex-dividend in January 2023. These would be the third interim dividends including special dividends.

The first interim dividend was in July 2022 at 8 per equity share. A similar 8 per share dividend was announced as the second interim in October last year.

Taking into consideration the three interim dividends, in FY23, the company has paid a total equity dividend of 9,100% aggregating to 91 per share.

In FY22 alone, TCS paid a total dividend of 4300% aggregating to 43 per equity share. The company's shareholders pay-out stood at 38,010 crore up by 12.2% yoy. The pay-out included dividends (including unpaid dividends), buyback, and taxes.

Generally, dividends are a form of incentive that is distributed by a listed company from their profits to shareholders. When a company pays a proportion of its profit as a dividend, any amount which is not distributed as dividends are put in the free reserves and surplus of that company.

On BSE, TCS shares closed at 3,242.10 apiece up by 0.9%. At the current market price, TCS dividend yield is approximately 1.3%.

In Q4FY23, TCS posted 14.8% YoY and 5.03% QoQ growth in consolidated net profit to 11,392 crore. Revenue from operations stood at 59,162 crore up by 16.94% YoY and 1.6% QoQ.

 

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Published: 12 Apr 2023, 05:32 PM IST
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