TCS declares final dividend of ₹28 per share for FY24

IT giant Tata Consultancy Services Ltd (TCS) on Friday announced a final dividend of ₹28 per equity share along with its Q4 results. The latest dividend will be paid on the fourth day from the conclusion of the 29th Annual General Meeting, subject to approval from the shareholders.

During the fourth quarter, TCS reported a 12.6% quarter-on-quarter (QoQ) rise in Q4 net profit to ₹12,502 crore. Its consolidated revenue stood at ₹62,394 crore, up 1.5% QoQ. TCS Q4 results were better than market estimates.

Also Read: TCS Q4 profit rises 12.5% QoQ to ₹12,502 crore, revenue up 1.5%

TCS has paid consistent dividends to its shareholders. With this final dividend, TCS has paid ₹73 per share total dividend to its shareholders. This includes a special dividend of ₹18 per share announced in the third quarter, along with an interim dividend of ₹9 per share.

TCS has a policy of returning 80-100% of its free cash flow (FCF) to company shareholders. In FY23, it paid ₹115 per share dividend, while ₹43 was paid in FY22.

TCS’s dividend yield comes out to be 1.82% at the current market price.

Besides consistent dividend payout, TCS also came out with ₹17,000 crore share buyback in FY24, with an offer price of ₹4,150 per share. In FY24, TCS did shareholder payout of ₹46,223 cr in the form of dividends and buyback.

Ahead of the Q4 result announcement, TCS shares closed 0.48% higher, with a day high of ₹4,013 per share. As the results were announced after market hours, the exact impact will be seen on 15 April.