Tata Group Stock Dividend: TCS Announces Rs 10/Sh Dividend; Record Date - October 18; How To Be Eligible?

Tech giant, Tata Consultancy Services (TCS) has declared a second interim dividend of Rs 10 per share for the financial year 2024-25. The Tata Group-backed flagship company has also fixed the record date and payment date for the reward. The announcement was made on October 10, during TCS' Q2 results for the current fiscal.

TCS Dividend:

TCS board of directors has approved a second interim dividend of Rs 10 each, having a face value of Rs 1 each.

It said, the second interim dividend shall be paid on Tuesday, November 5, 2024, 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 Friday, October 18, 2024, which is the Record Date fixed for the purpose.

For FY25, earlier, TCS delivered the first interim dividend of 1,000% worth Rs 10 per share. Overall, in FY24, the company paid up to a 7,300% dividend valuing Rs 73 per share.

How To Be Eligible For TCS Dividend?

Here are five ways to be eligible for dividend rewards, as per Motilal Oswal's website:

1. Ownership Of Shares: To receive dividends, you need to own company shares. You won't be eligible for dividends if you don't own any shares.

2. Record Date: The record date is the date when the company checks its records to see who should get the dividends. Shareholders listed in the company's records on the record date are eligible to receive the dividends.

3. Ex-Dividend Date: The ex-dividend date is the day when the share price is adjusted to the dividend payment. Due to the T+1 settlement in India, the ex-dividend date is the same as the record date. Buying shares after the ex-dividend date means you won't get the current dividend.

4. Dividend Policy: Each company has its own dividend policy. This policy determines how often and how much they pay in dividends. Some companies may not distribute dividends at all. So it's good to check the company's dividend policy to understand their approach.

5. Different Share Classes: Companies may have different types of shares, like common and preferred shares. These share classes can have different dividend entitlements. Make sure you understand the dividend rights associated with the shares you own.

TCS Q2 Results:

TCS earned a consolidated net profit of Rs 11,909 crore in Q1FY25, registering growth of 5% YoY. On the top-line front, revenue climbed 8% YoY to Rs 64,259 crore. In constant currency, the revenue growth came in at 5.5% YoY in the quarter under review. On segment-wise performance, IN Q2FY25, CC growth in BFSI was marginal at 0.1%, which was also the case in life sciences & healthcare, and consumer business compared to Q2FY24. Strong growth emerged in the Energy, Resources and Utilities segment with CC revenue growth of 7%, followed by CC growth of 5.3% in the manufacturing business.

On BSE, TCS share price ended at Rs 4228.40 apiece, down by 0.6% with a market cap of Rs 15,29,872.13 crore.