Dividend paying stock: TCS to trade ex-dividend next week to pay ₹75 per scrip

Market


Tata Consultancy Services or TCS shares would one of the dividend paying stocks next week as board of directors of the company has fixed 17th January 2023 as record date for payment third interim dividend of 8 per equity share and payment of special equity dividend of 67 per share. The bellwether IT giant would pay special dividend and third interim dividend on ex-date basis. Means TCS share price will trade ex-dividend on 16th January 2022 i.e. on Monday next week.

TCS informed Indian stock market bourses about the dividend payment of 75 citing, “We would like to inform you that at the Board Meeting held today, the Directors have declared a third interim dividend of Rs. 8 and a special dividend of Rs. 67 per Equity Share of Re. 1 each of the Company. The third interim dividend and the special dividend shall be paid on Friday, February 3, 2023, 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 Tuesday, January 17, 2023, which is the Record Date fixed for the purpose.”

The third interim dividend and the special dividend will be paid on 3 February, 2023, 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 17 January, 2023, which is the record date fixed for the purpose.

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In Q3 results announced last week, TCS reported a lower-than-expected profit at 10,846 crore. TCS’ net profit for the third quarter rose by nearly 11 per cent to 10,846 crore as against 9,806 crore in the year-ago quarter. The bellwether IT giant’s revenue came in at 58,229 crore, up 19 per cent YoY, +13.5 per cent YoY in constant currency (cc).

The IT giant has a strong track record of dividend payment to its shareholders. Inn October 2022, TCS had announced second interim dividend of 8 per equity share for the fiscal year FY23.


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