TCS Declares Second Interim Dividend of Rs 9 Per Equity Share; What Investors Need To Know – News18

Tata Consultancy Services (TCS), India’s largest IT services company, on Wednesday, October 11, declared its second interim dividend or Rs 9 per equity share. The record date for this has been fixed as October 19 and the payment date as November 7.

“We would like to inform you that at the board meeting held today (Wednesday), the directors have declared a second interim dividend of Rs 9 per equity share of Rs 1 each of the company,” TCS said in a statement.

It added that the second interim dividend shall be paid on Tuesday, November 7, 2023, to the equity shareholders of TCS, whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on Thursday, October 19, 2023, which is the record date fixed for the purpose.

Companies declare interim dividend payouts for shareholders, based on their earnings, every quarter; final dividends at the year-end; and an occasional special dividend.

Kick-starting India’s Q2FY24 earnings season, TCS on Wednesday posted a 8.73 per cent growth in its net profit to Rs 11,342 crore for the September 2023 quarter. Its net profit had stood at Rs 10,431 crore in the corresponding period last year (Q2 FY22).

TCS’ board of directors also approved a proposal to buyback up to Rs 4,09,63,855 equity shares of the company for an aggregate amount not exceeding Rs 17,000 crore being 1.12 per cent of the total paid-up equity share capital at Rs 4,150 per equity share, subject to approval from shareholders, according to the BSE filing.