The board of Tata Consultancy Services Ltd (TCS) on Friday approved a final dividend of ₹28 per equity share for the financial year ending March 2024.
Along with the March quarter results, the Mumbai-based IT services giant said the dividend will be paid on the fourth day from the conclusion of the 29th Annual General Meeting, subject to approval from the shareholders.
TCS had declared an third interim dividend of ₹9 and a special dividend of ₹18 per share in January this year, following a ₹9 payout in October 2023.
Besides, it also came out with ₹ 17,000 crore share buyback in FY24.
In the past 12 months, TCS has declared an equity dividend amounting to ₹69 per share.
At the current market price, Tata Consultancy Services Ltd.'s dividend yield is 1.73%, according to data from Trendlyne.
Shares of TCS usually trade ex-dividend on the day of record date or a day before.
When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.
An ex-dividend date also dictates which shareholders are eligible to receive the dividend payment.
For the fourth quarter of FY24, TCS reported a net profit of ₹12,240 crore, a growth of 4.3% compared to the December quarter.
Analysts polled in a CNBC-TV18 estimate had pegged the net profit figure to be ₹12,080 crore.
In rupee terms, TCS reported a revenue growth of 1% as against the December quarter. The ₹61,237 crore figure was slightly lower than the ₹61,400 crore estimate from a CNBC-TV18 poll.
However, TCS' constant currency revenue growth stood at 1.1% on a sequential basis, while the CNBC-TV18 poll had pegged a figure of 1.3%.
The 5% growth in EBIT (Earnings before Interest and Tax), or simply the operating profit, off ₹15,918 crore was better the street estimate of ₹15,515 crore.
The operating margin also widened 100 basis points to 26% from 25% three months earlier. It was better than the CNBC-TV18 poll of analysts that predicted the EBIT margin at 25.3%.
Ahead of the earnings announcement, shares of TCS ended 0.48% higher on the National Stock Exchange at ₹4,003.80.
