Dividends are rewards that companies often offer to shareholders out of a portion of their earnings, but are not mandatory.
Updated – Tue, 10 Jan 23 at 10:19am
New Delhi: Tata Consultancy Services has declared an interim dividend of Rs 7 rupees and a special dividend of Rs 67 per share for its investors.
“We would like to inform you that at the board meeting held today, the directors declared a third interim dividend of Rs 8 and a special dividend of Rs 67 per share of Rs 1,” TCS said in a stock exchange filing.
Dividends are rewards that companies often offer to shareholders out of a portion of their earnings, but are not mandatory.
The third interim and special dividends will be paid on February 3, 2023 to shareholders of the company whose names appear on the company’s register of members or depositary records as beneficial owners of the shares.
The record date established for this purpose is January 17, 2023. The date of record is used to determine whether shareholders are eligible to pay dividends.
Meanwhile, the IT services firm on Monday reported a 10.98% rise in consolidated net profit to Rs 1,088.3 crore for the quarter ending December 2022 (Q3FY23). The company posted a profit of Rs 9,806 crore in the same period last year.
TCS reported 19.1% YoY revenue growth for the quarter ending December 2022. The software giant said net revenue rose 11 percent to 1,084.6 billion rupees in the December quarter, with a net profit margin of 18.6 percent.
Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “Our quarterly growth was driven by cloud services, market share gains from vendor consolidation, and continued momentum in North America and the UK. We are pleased to deliver strong growth in a weak quarter.” “The continued strong demand for our services is a testament to the value we provide our clients, helping them differentiate while enhancing their competitiveness.
Looking ahead, despite the current uncertainties, our long-term growth prospects remain strong. TCS also said that 35.7 percent of its workforce is female, representing 153 nationalities.
