Rs 69/Share Dividend In 2023, Multiple Bonus Issues: Tata Stock Set For Next Round Of Dividend

Leading Tata Group IT Software stock, Tata Consultancy Services Ltd informed investors and shareholders about its upcoming meeting of Board scheduled to be held on April 12, 2024. The agendas of the meeting include dividend and financial results. Earlier in 2023, TCS paid whopping dividend of Rs 69/share to its shareholders and till date the company announced 3 bonus issues. Also, the company announced stunning 83 dividend since 2004. Last trading price of Tata Consultancy Services Ltd share on BSE is Rs 3883.55 per share with intraday gain of 1.20%. The company has a market capitalisation of Rs 14,05,102.38 crore. Check more details about TCS below:

Tata Consultancy Services Ltd To Consider Dividend, Financial Results: The company on March 29 informed through its exchange filing about the meeting of Board of Directors that would take place on April 12, 2024. As per the filing, the company will approve and take on record audited consolidated financial results and its subsidiaries under Ind AS for the year ending March 31, 2024. TCS will also recommend a final dividend, if any, on the equity shares of the Company for the financial year ending March 31, 2024, for the approval of the shareholders at the ensuing 29th Annual General Meeting.

TCS Dividend History: Tata Consultancy Services announced 83 dividends since October 28, 2004. In last 12 months, Tata Consultancy Services announced an equity dividend of Rs 69.00 per share. At the current share price of Rs 3883.65, TCS has a dividend yield of 1.78%.

TCS Bonus Share History: TCS has already declared 3 bonus issues since July 28, 2006. Its last bonus issue was announced in the ratio of 1:1 with ex-date declared as May 31, 2018, according to data available at Trendlyne.

Yes Securities Recommends Buy Call For TCS Shares: Yes Securities has assigned buy call to TCS shares with target price of Rs 4600 apiece. If you buy Tata Consultancy Services shares with current market price of Rs 3883.65 apiece, you can get potential return of 18.45%. According to the brokerage firm, Relative strength studies of TCS indicating a base building pattern, holding on to polarity zone point. Breakthrough after this pattern might lead to O/P of TCS. On standalone chart, TCS confirmed a bullish turtle break post bullish anchor column, indicating a rally towards Rs 4,600. If you buy Tata stock now, you can get likely return of 18.45%.

UBS Upgrades To Buy: UBS has upgraded target price of TCS shares from Rs 4050 to now 4700. If the last trading price of Rs 3883.55 is taken into consideration, it offers potential return of 21.02%. UBS said, ""We believe the market is not completely taking into account the impact of the ramp-up in large deals. Furthermore, we think the potential demand recovery in FY25E will positively surprise the market which it is not currently priced in."

TCS Shares Performance: The 52-week high price of TCS stock on BSE is Rs 4254.45 apiece and 52-week low price is Rs 3070.30 apiece, respectively. Tata Consultancy Services shares declined 5.66% in last 1-month, rallied 9.79% in last 6-months, gained 5% in last 2-years, and offered rally of 94% in last 5-years. In last 10-years, it surged 268%.

Block Deal: According to report, Tata Sons is planning to sell 2.3 crore shares in TCS via block deals. The total number of shares on offer is 0.64% of TCS total outstanding equity. Reports state that the offer price for the block deal is Rs 4,001 apiece, that is a 3.45% discount as against the Monday's closing price Rs 4144.75 apiece for Tata Consultancy Services.

Tata Consultancy Services Q3 Results: TCS on January 11, 2024 announced its net profit at Rs 11,058 crore for the quarter ended December 31, 2023, up 2% as against to Rs 10,846 crore in the similar quarter of last year. The marginal rally was registered despite high furloughs BFSI and hi-tech sectors along with regular slowdown in discretionary spending. Sequentially, TCS net profit declined 2.5%. The consolidated revenue soared 4% YoY to Rs 60,583 for the quarter under consideration from Rs 58,229 crore an year ago, according to the exchange filing of the company.

Disclaimer:

The stocks have been picked from the brokerage report of Yes Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.