TCS Q4 results: Before this, Tata Consultancy Services Ltd announced an interim dividend of Rs 9 per cent share and a special dividend of Rs 18 per share post its third quarter results. TCS announced dividends of Rs 9 each in the second and first quarter.
TCS paid Rs 115 per share dividend in the previous financial year, amounting to Rs 33,306 crore.
Tata Consultancy Services Ltd (TCS), the largest domestic software exporter, on Friday announced a final dividend of Rs 28 per share for the financial year 2023-24. Along with Rs 45 per share dividend announced earlier, the total TCS dividend for FY24 stood at Rs 73 per share. The TCS board approved the dividend proposal while announcing the IT firm’s March quarter results. The dividend would be paid on the fourth day post TCS’ upcoming 29th Annual General Meeting (AGM).
“We would like to inform you that at the board meeting held today, the directors have recommended a final dividend of Rs 28 per equity share of Re 1 each of the company which shall be paid/dispatched on the fourth day from the conclusion of the 29th Annual General Meeting, subject to approval of the shareholders of the company.
Before this, TCS announced an interim dividend of Rs 9 per cent share and a special dividend of Rs 18 per share post its third quarter results. TCS declared interim dividends of Rs 9 each in the second and first quarter. Besides, it also came out with Rs 17,000 crore share buyback in FY24.
TCS announced a final dividend of Rs 24 per share in FY23. In total, it paid Rs 115 per share dividend in the previous financial year, amounting to Rs 33,306 crore. The dividend yield stood at 3.59 per cent. TCS paid Rs 7,686 crore in dividend in FY22, Rs 8,510 crore in dividend in FY21 and Rs 25,125 crore in dividend in FY20.
TCS paid Rs 43 per share dividend in FY22, Rs 38 per share dividend in FY21 and Rs 72 per share dividend in FY20. TCS has a policy of returning 80-100 per cent of free cash flow (FCF) to company shareholders. In FY23, its total payouts stood at 110 per cent of FCF.
Analysts were largely expecting TCS to lead tier-1 IT firms in terms on revenue, profits and margins on moderated expectations. TCS will be addressing media at 5:30 pm IST and would also host earnings conference call at 7 pm IST.
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