TCS announces interim dividend of ₹9/Share

livemint.com:

Tata Consultancy Services (TCS) on Wednesday announced its interim dividend of ₹ 9 per equity share which is 900 per cent above the face value for fiscal FY23. Last month, the IT giant had fixed July 20 as the record date to determine eligible shareholders for the fourth interim dividend. The fourth interim dividend will be paid on 07 August, 2023, to the equity shareholders of the company, 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 20 July, 2023, which is the record date fixed for the purpose.

The company informed in an exchange filing, "We would like to inform you that at the Board Meeting held today, the Directors have declared an interim dividend of ₹9 per Equity Share of ₹1 each of the Company." The interim dividend shall be paid on Monday, August 7, 2023, to the equity shareholders of the Company, 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, July 20, 2023, which is the Record Date, fixed for the purpose. TCS kickstarted the first quarter earnings season for FY24. TCS' net profit for the fisrt quarter rose by nearly 14% to ₹11,074 crore as against ₹9,478 crore in the year-ago quarter.

The IT giant's revenue came in at ₹59,381 crore, up 12% YoY, +7% YoY in constant currency (cc).Operating Margin at 23.2%; an expansion of 0.1% YoY. Net Cash from Operations at `11,353 crore ie 102.5% of Net Income. The company has declared an equity dividend amounting to ₹9.00 per share in the first quarter.