TCS shares in focus as Tata group stock trades ex-dividend today

The information technology giant had recommended a final dividend of ₹28 per equity share with a face value of ₹1 each, for the financial year 2023-24 last month on April 12.

The dividend payment was subject to the approval of the company’s shareholders at the Annual General Meeting (AGM).

TCS’ annual general meeting is scheduled to be held on Friday, May 31, 2024.

The software exporter’s board has set the record date for determining the eligible candidates of the aforementioned final dividend as Thursday, May 16. If the dividend payout is approved at the company’s upcoming AGM later this month, the final dividend will be paid to eligible shareholders of TCS on June 4, 2024.

In order to be eligible for the said dividend, one must be a beneficial owner of TCS’ share(s), held in demat form as on the closing of business hours on May 16, which is the record date.

The Tata Group major reported a 12.6% quarter-on-quarter (QoQ) rise in net profit for the quarter ended March 31, 2024, at ₹12,502 crore, while the consolidated revenue climbing marginally by 1.5% on a QoQ basis to ₹62,394 crore.

Its total contract value recorded an all-time high of $42.7 billion in the financial year 2023-24 (FY24), while the order book stood at $13.2 billion.

Similarly, the mega-cap giant’s net profit for the full financial year 2024 rose 8.9% on a year-on-year (YoY) basis to ₹46,099 crore, while rising a little over 7% in terms of consolidated revenue to ₹2,45,315 crore.

“Our Q4 performance is robust, with broad based deal wins across industries and geographies. Our products and platforms business sparkled with the mega deal win at Aviva and emerging markets had another stellar growth quarter demonstrating the power of TCS’ diversified portfolio,” said TCS Chief Operating Officer and Executive Director, N Ganapathy Subramaniam.

Shares of TCS Ltd closed 0.30% higher at ₹3,892 apiece on the NSE.