TCS Dividend: Board recommends final dividend of ₹28/equity share; check details

TCS Q4 Results: Tata Consultancy Services (TCS) announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Friday, April 12, and the board recommended a final dividend along with releasing the quarterly numbers. The board of India's top IT services provider today recommended a final dividend of ₹28 per equity share for the face value of Re 1 each of the company. 

Follow TCS Q4 Results Live Updates: Net profit rises 9% to ₹12,240 crore, revenue at ₹61,237 crore

‘’At the board meeting held today, the directors have recommended a final dividend of ₹28 per equity share of Re 1 each of the company which shall be paid/dispatched on the fourth day from the conclusion of the 29th Annual General Meeting, subject to approval of the shareholders of the company,'' said TCS in a regulatory filing to the stock exchanges.

TCS dividend history

TCS has declared 83 dividends since October 28, 2004. In the past 12 months,  the IT major has declared an equity dividend amounting to ₹69.00 per share. At the current share price of ₹4,000.3 apiece on the BSE, TCS's dividend yield is around 1.77 per cent. TCS shares last traded ex-dividend on January 19, 2024. A special dividend of ₹18 per equity share and an interim dividend of ₹9 per share were declared and the record date for the purpose was set as January 19.

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TCS Q4 Results

TCS on Friday reported a 9.1 per cent growth in its March quarter net profit at ₹12,240 crore, compared to ₹11,392 crore in the corresponding period last year. For the entire fiscal year 2023-24, the IT major's net profit grew nine per cent to ₹45,908 crore. TCS's revenue from operations during the March quarter came in at ₹61,237 crore reporting a 3.5 per cent jump year-on-year (YoY).

The Tata Group company's post tax profit during the January-March period last year stood at ₹11,392 crore. TCS registered an all-time high order book of $42.7 billion for FY24 and a record number of $13.2 billion for Q4FY24.

“We are very pleased to close Q4 and FY24 on a strong note with the highest ever order book and a 26per cent operating margin, validating the robustness of our business model and execution excellence. In an environment of global macro uncertainty, we are staying close to our customers and helping them execute on their core priorities with TCS’ portfolio of offerings, innovation capabilities and thought leadership,'' said K Krithivasan, Chief Executive Officer and Managing Director.

TCS's shares have gained around six per cent so far this year, while the broader IT index has shed 1.4 per cent. The blue-chip Nifty 50 index has gained 3.6 per cent. Ahead of the announcement of Q4 results, shares of TCS settled 0.45 per cent higher at ₹4,000.30 apiece on the BSE.