Tata Consultancy Services (TCS) Dividend 2024: Shares of IT giant, Tata Consultancy Services (TCS) are approaching their ex-date as the company has announced a dividend reward of whopping 1000 per cent, along with its financial results for the second quarter of FY25. India’s largest IT services provider company said in an exchange filing that the company’s board has declared a second interim dividend of Rs 10 per equity share of Re 1 each of the company for FY25.
TCS has also fixed Friday, October 18, 2024, as the record date to determine the eligibility of participation in the said corporate announcement. The company further said that the second interim dividend shall be paid on Tuesday, November 5, 2024, to the equity shareholders of the Company.
TCS boasts a rich history of rewarding its shareholders with dividends. BSE data reflects that the company paid a dividend of an interim dividend of Rs 10 earlier this year. In FY23, TCS paid interim dividends of Rs 27 on three different occasions, a final dividend of Rs 28, and a special dividend of Rs 18 to its shareholders.
That said, at the current market price, TCS shares have a dividend yield of 1.37 per cent.
Earlier last week, on Thursday, October 10, TCS posted a quarter-on-quarter (Q-o-Q) drop of 1.08 per cent in its net profit of Rs 11,909 crore, which, however, was a 5 per cent increase over the Rs 11,342 crore recorded in the corresponding quarter of the previous financial year. However, revenue from operations grew by 2.63 per cent Q-o-Q to Rs 64,259 crore in the second quarter of FY25.
Meanwhile, the shares of TCS are trading sideways on Monday. After starting the day’s session in red at Rs 4145, TCS shares rose to an intra-day high of Rs 4166.40 on the BSE. The IT stock, however, has taken a retreat and currently traded at Rs 4149.40, down merely 0.03 per cent from its previous close of Rs 4150.6 on the BSE, at around 2 PM.
Against this, the BSE IT index is trading higher by 1.04 per cent at 43,270.51, riding on the back of 63 Moons Technologies, Wipro, Mastek, Mphasis, and Tech Mahindra.
Historically, TCS shares have exhibited mixed performance. The company’s shares have dropped -8.25 per cent in the last one month, while gaining 3.72 per cent in the last six months. TCS shares have yielded a return of 8.88 per cent year-to-date and 16.21 per cent in the last one year. The IT stock has sprinted 105.30 per cent in the last five years and 207.37 per cent in the last ten years. TCS shares have a 52-week range of Rs 4,585.90 – 3,313.00 on the BSE.
Tata Consultancy Services (TCS) is a leading Indian multinational information technology (IT) services and consulting company. Headquartered in Mumbai, TCS is part of the Tata Group, one of India’s largest conglomerates. Founded in 1968, TCS has grown to become one of the world’s largest IT services companies, with operations in over 50 countries. TCS offers a range of services, including consulting, application development, infrastructure management, and business process outsourcing.
First Published: Oct 14 2024 | 2:27 PM IST
