TCS Dividend: IT services giant Tata Consultancy Services (TCS) today announced a dividend for investors. The company offered investors Rs. per equity share. 9 declared an interim dividend.
Let us tell you that TCS has today announced the results for the first quarter (April-June) of FY 24, in which the company has announced this dividend. According to the quarterly results, TCS posted double-digit growth on both the bottom-line and top-line fronts on a year-on-year basis.
When is the record date??
TCS has set a record date of July 20, while the dividend will be paid on Monday, August 7, 2023.
The company said, We would like to inform you that in the board meeting held today, the directors have declared an interim dividend of Rs.9 to the investors of the company. The interim dividend will be paid on Monday, 7th August, 2023 to the equity shareholders of the company whose names appear in the company’s register of members or in the records of depositories as the beneficial owners of the shares. Thursday, 20th July, 2023, is the record date fixed for this purpose.
When is the ex-dividend date??
TCS shares will go ex-dividend on July 20, the same as the record date.
TCS posted strong earnings in the first quarter of FY24. In the first quarter, TCS’s net profit rose nearly 14 percent to Rs. 11,074 crore as against Rs. 9,478 crores.
The IT giant’s revenue rose 12 percent year-on-year to Rs. 59,381 crore, while constant currency (CC) growth was over 7 percent year-on-year. Let us tell you that TCS has a very strong track record in paying dividends.
Veteran IT company Tata Consultancy Services has announced that it has increased the salaries of its employees. Despite the slowdown in the IT sector due to the global economic crisis, TCS has increased the annual salary of its employees from April 1, 2023.
Despite good results, TCS stock price has seen a decline today. On Wednesday, shares of TCS fell 0.36 percent on the BSE to Rs. closed at 3,260.20.
During the announcement of the first quarter results, TCS CFO Sameer Saksaria said that from April 1, 2023, the company has increased the annual salary of the employees. He said that the impact of 200 basis points on 23.2 per cent of operating margin due to salary increase is being seen. Milling Lakkar of TCS said the company has given top performers a pay hike of 12 to 15 percent. Apart from this, promotion has also been given.
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