Tata Stock REWARDS: TCS Declares Rs 10/Sh Interim Dividend; Record Date On July 20, Payment In August

Dividend king stock in the IT sector, Tata Consultancy Services (TCS) has declared an interim dividend of Rs 10 per share for the financial year 2024-25. This will be the 86th dividend by this Tata Group behemoth whose valuation is above Rs 14.19 lakh crore on BSE, making it the second largest company and largest IT company in India.

On July 11, TCS said, "We would like to inform you that at the Board Meeting held today, the Directors have declared an interim dividend of ₹ 10 per Equity Share of ₹1 each of the Company."

This will be the first dividend payout by TCS for the current financial year.

How To Be Eligible For TCS Upcoming Dividend:

To be eligible, investors must not miss out on important dates such as ex-dividend date, record date, and payment date. The record date is important since it is the day when TCS will determine eligible shareholders for a Rs 10 per share dividend payout.

Meaning, that investors who hold TCS shares in their demat accounts by the end of the record date, will be eligible for a Rs 10 per share dividend payment.

TCS Dividend Important Dates:

1. Dividend Amount: Rs 10 per share having a face value of Rs 10 each by the company will be paid for FY25.

2. Record Date: TCS said interim dividend will be distributed 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 of Saturday, July 20, 2024, which is the
Record Date, fixed for the purpose.

3. Ex-Dividend Date: July 20th falls on a Saturday, which is a weekend holiday for the stock market. Hence, the ex-dividend date is fixed on July 19. This means that eligible shareholders will be taken into account by the end of business hours on July 19.

4. Payment Date: TCS said, the interim dividend shall be paid on Monday, August 5, 2024, to the eligible shareholders.

As per Trendlyne data, since October 2004, TCS has delivered up to 85 dividends.

In 2024 alone, earlier, TCS paid dividends of Rs 28 per share for which it turned ex-dividend in May, following Rs 19 special dividend per share and Rs 9 dividend per share for which the company turned ex-dividend in January 2024.

In FY24, TCS paid dividends of 7,300% amounting to Rs 73 per share. On the current market price, it has a dividend yield of 1.86%.

TCS Share Price:

TCS share price stood at Rs 3922.70 apiece, up by Rs 12.80 or 0.33% on BSE, after market hours of July 11th. The market cap of the company is at Rs 14,19,267.19 crore. The stock's 52-week high and low is at Rs 4,254.45 apiece and Rs 3,250 apiece respectively.

TCS Q1 Results:

In Q1FY25, TCS earned a consolidated net profit of Rs 12,105 crore, registering a growth of 8.86% from a net profit of Rs 11,120 crore in the same quarter a year ago. However, sequentially, TCS' consolidated net profit dipped by 3.2% in Q1FY25 compared to PAT of Rs 12,502 crore in Q4FY24.

Meanwhile, consolidated revenue from operations stood at Rs 62,613 crore, recording a growth of 5.44% from revenue of Rs 59,381 crore in Q1FY24, and was also up by 2.5% from revenue of Rs 61,237 crore in Q4FY24. In constant currency, the company's revenue growth is at 4.4% YoY in the quarter under review.