TCS shares go ex-dividend
TCS Shares Today: Shares of IT major Tata Consultancy Services (TCS) are trading ex-dividend today
TCS Stocks Today: Shares of IT giant Tata Consultancy Services (TCS) are trading ex-dividend today. The stock price fell 2 percent in early morning deals on Monday, Jan. 16. At 9.25 am, shares of India’s largest IT company were trading Rs 3304 apiece, down Rs 70 or 2.06 percent.
An ex-date is a date when a stock trades without the benefit of a dividend or any other corporate action.
The IT major had previously announced an interim dividend of Rs 8 per share and a special dividend of Rs 67 per share. The record date for the two dividends is January 17. The dividends would be paid on Tuesday to those shareholders, whose names will appear in the company’s register of members or in the records of the custodians as beneficial owners of the shares. The two dividends will be paid to eligible shareholders on February 3.
The third interim dividend and the special dividend will be paid to eligible shareholders of TCS on February 3, 2023.
“The third interim dividend and the special dividend will be paid on February 3, 2023 to the shareholders of the company, whose names appear in the register of members of the company or in the registers of the custodians as beneficial owners of the shares. as on January 17, 2023, which is the registration date set for this purpose,” the company had said in a registration application.
The IT bellwether has a strong track record of paying dividends to its shareholders, with 77 dividend payments since October 28, 2004.
A dividend is the distribution of profits by a company to its shareholders. When a company makes a profit or surplus, it can distribute a portion of the profit to shareholders in the form of dividends.
Data available with company database AceEquity suggests that TCS’s dividend yield was 1.27 percent on Friday. TCS announced a total dividend of Rs 43 per share (yield 1.15 percent) for FY22, totaling Rs 7,686 crore. In FY21, TCS announced a total dividend of Rs 38 per share; it declared a total dividend of Rs 73 per share in FY20, Rs 30 per share in FY19, Rs 50 per share in FY18, Rs 47 per share in FY17 and Rs 43.50 per share in FY16.
TCS reported an 11 percent increase in its December quarter net profit to Rs 10,846 crore, led by overall growth and forex gains. The Tata Group company had reported a net profit after tax of Rs 9,769 crore in the same period last year.
Over the past 6 months, shares of TCS have returned investors about 8 percent. The 52-week range of the share is Rs 4,043.00 – Rs 2,926.10. The company has a market capitalization of Rs 12.14 lakh crore at the current market level.
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