Dividend stock 2024: Tata Consultancy Services stock in focus as TCS shares to trade ex-dividend today
Dividend stocks 2024: Shares of Tata Consultancy Services Ltd (TCS) will be in focus when the stock market opens on May 16 (Thursday). The Board of Directors of TCS has declared a final dividend of ₹28.00 per equity share for its eligible shareholders.
ALSO READ: TCS sets the bar: Merges AI and cloud businesses to form Ai.Cloud The record date by the company to ascertain the eligibility of shareholders for the dividend issue has been fixed on May 16. In a stock exchange filing, Tata Consultancy Services said: “The Board of Directors at its meeting held on Friday, April 12, 2024 had recommended a final dividend of ₹28 per equity share of ₹1 each of the Company for approval by the shareholders at the Annual General Meeting (‘AGM’) scheduled to be held on Friday, May 31, 2024." “If the final dividend as recommended by the Board of Directors is approved at the AGM, payment of such dividend, subject to deduction of tax at source, will be made on Tuesday, June 4, 2024," the filing added.
Shares of Tata Consultancy Services will trade ex-dividend on Thursday. Tata Consultancy Services (TCS) on April 12 reported a 9 per cent rise in net profit at ₹12,434 crore in January-March quarter of FY24, helped by improved margin and strong performance of India business.
Its revenue increased by 3.5 per cent to ₹61,237 crore during the March quarter from ₹60,583 crore in the corresponding quarter a year ago. ALSO READ: TCS' Krithivasan earns the lowest among top Indian IT CEOs TCS’ operating margin expanded by 1.50 per cent to 26 per cent, which boosted the profit.
In the fourth quarter, the company got new orders worth $13.2 billion, highest-ever in a quarter. In a statement, chief executive and managing director K Krithivasan had said
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