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TCS Declares Interim Dividend of Rs 9, Special Dividend of Rs 18; Sets Record Date
TCS Declares Interim Dividend of Rs 9, Special Dividend of Rs 18; Sets Record Date
TCS has announced a third interim dividend of Rs 9 and a special dividend of Rs 18 per share for the financial year ending March 2024. The company has fixed January 19 as the record date to determine the eligibility of shareholders for the proposed dividend. The dividends will be paid on February 5 to the eligible shareholders. Additionally, the article provides insights into TCS’s financial performance, including its net profit, revenue, and sector-wise growth.
Key Takeaways:
1. TCS has declared a third interim dividend of Rs 9 and a special dividend of Rs 18 per share for the financial year ending March 2024.
2. The record date to determine the eligibility of shareholders for the proposed dividend has been set as January 19, with the dividends to be paid on February 5.
3. TCS reported a marginal 2% growth in its consolidated net profit at Rs 11,058 crore, with revenue increasing by 4% to Rs 60,583 crore.
4. The growth during the quarter was led by the energy, resources and utilities vertical, which grew 11.8%, and manufacturing, which rose 7%.
5. However, the tech and services sector showed a poor performance with a -5% growth, followed by a decline in the communications and media segment by 4.9%, and a 3% decline in the BFSI segment.
6. TCS secured deals worth $8.1 billion in the third quarter, lower than the $11.2 billion worth of deals it secured in the September quarter.
A Tata Consultancy Services (TCS) declaring an interim dividend and a special dividend, along with some financial performance details. Here’s a breakdown of the key points from the article:
Dividend Declaration
TCS has declared a third interim dividend of Rs 9 and a special dividend of Rs 18 per share for the financial year ending March 2024.
The record date to determine the eligibility of shareholders for the proposed dividend has been fixed as January 19.
The third interim dividend and the special dividend will be paid on February 5 to the eligible shareholders.
Shares of TCS will likely trade ex-dividend on the day or a day before the record date.
Financial Performance
TCS reported a marginal 2% growth in its consolidated net profit at Rs 11,058 crore.
Revenue increased by 4% to Rs 60,583 crore, with a 1.7% year-on-year growth in constant currency (CC) terms.
The growth during the quarter was led by the energy, resources and utilities vertical, which grew 11.8%, and manufacturing, which rose 7%.
The life sciences and healthcare business jumped 3.1% in the reporting quarter.
However, the tech and services sector showed a poor performance with a -5% growth, followed by a decline in the communications and media segment by 4.9%, and a 3% decline in the BFSI segment.
The decline in revenue from these verticals indicates a slowdown in discretionary spending.
Deal Performance
TCS secured deals worth $8.1 billion in the third quarter, lower than the $11.2 billion worth of deals it secured in the September quarter.
Stock Performance
Ahead of the earnings, shares of TCS ended 0.6% higher on the National Stock Exchange at Rs 3,735.55.
FAQ
Q1: When will the dividends be paid?
A1: The third interim dividend and the special dividend will be paid on February 5 to the eligible shareholders.
Q2: What is the record date for determining dividend eligibility?
A2: The record date has been fixed as January 19 to determine the eligibility of shareholders for the proposed dividend.
Q3: What was TCS’s financial performance in the reported quarter?
A3: TCS reported a marginal 2% growth in its consolidated net profit at Rs 11,058 crore, with revenue increasing by 4% to Rs 60,583 crore. Sector-wise growth details are also provided in the article.
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