Rs 9/Share Interim Dividend, Rs 18/Share Special Dividend; TCS Brings Huge Rewards For Investors; Details Here

IT sector's top dividend paying company, Tata Consultany Services has declared a host of rewards for investors. The Tata Group-backed flagship company not only announced a third interim dividend of Rs 9 per share for investors for FY24, but also declared special dividend of Rs 18 per share.

Together, TCS is set to reward shareholders with a hefty dividend of Rs 27 per share.

In its regulatory filing, TCS said, We would like to inform you that at the Board Meeting held today, the Directors have declared a third interim dividend of Rs 9 and a special dividend of Rs 18 per Equity Share of Rs 1 each of the Company."

Further, the third interim and special dividend will be paid on Monday, February 5, 2024 to eligible equity shareholders of the company.

These eligible shareholders are those 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, January 19, 2024, which is the Record Date fixed for the purpose.

TCS share price will also turn ex-dividend on January 19.

TCS has continued to declare huge dividends for its shareholders in FY24. In this fiscal, so far, TCS has paid first and second interim dividends up to Rs 24 (2400%) and Rs 9 (900%) per share to its shareholders.

Established in 1968, TCS is part of Tata Group, India's largest multinational business group. However, the company was corporatized into a separate company with effect from 1st April 2004. Following a hugely successful IPO in July 2004, it was listed on the NSE and BSE, in India, on August 25, 2004.

This Tata Group-backed IT giant first started to reward shareholders with dividends in October 2005, and since then, has delivered 82 dividends. Currently, it has a dividend yield of 3.13%.

Among many corporate actions are dividend recommendations which are one of the benefits of holding a stock price. Dividends are distributed in a certain proportion by listed companies from their net profits earned in a respective financial year. The record date is proposed by the listed company's board of directors to determine the name of the eligible shareholders for dividends.

Furthermore, as per BSE FAQs, to be eligible to receive dividends, investors have to have shares in the Demat account by record date. Meanwhile, the ex-dividend date is the day when the price of the equity share of the listed company gets adjusted for the dividend payout.