Dividend stock 2024: Tata Consultancy Services stock in focus as TCS shares to trade ex-dividend today

dividend stock 2024: tata consultancy services stock in focus as tcs shares to trade ex-dividend today

TCS on April 12 reported a 9 per cent rise in net profit at ₹12,434 crore in January-March quarter of FY24. Bloomberg

Dividend stocks 2024: Shares of Tata Consultancy Services Ltd (TCS) will be in focus when the stock market opens on May 16 (Thursday).

The Board of Directors of TCS has declared a final dividend of ₹28.00 per equity share for its eligible shareholders.

The record date by the company to ascertain the eligibility of shareholders for the dividend issue has been fixed on May 16.

TCS dividend details

In a stock exchange filing, Tata Consultancy Services said: “The Board of Directors at its meeting held on Friday, April 12, 2024 had recommended a final dividend of ₹28 per equity share of ₹1 each of the Company for approval by the shareholders at the Annual General Meeting (‘AGM’) scheduled to be held on Friday, May 31, 2024.”

“If the final dividend as recommended by the Board of Directors is approved at the AGM, payment of such dividend, subject to deduction of tax at source, will be made on Tuesday, June 4, 2024,” the filing added.

Shares of Tata Consultancy Services will trade ex-dividend on Thursday.

TCS Q4 results 2024

Tata Consultancy Services (TCS) on April 12 reported a 9 per cent rise in net profit at ₹12,434 crore in January-March quarter of FY24, helped by improved margin and strong performance of India business.

Its revenue increased by 3.5 per cent to ₹61,237 crore during the March quarter from ₹60,583 crore in the corresponding quarter a year ago.

TCS’ operating margin expanded by 1.50 per cent to 26 per cent, which boosted the profit.

In the fourth quarter, the company got new orders worth $13.2 billion, highest-ever in a quarter.

In a statement, chief executive and managing director K Krithivasan had said that profit margin and order book validates the robustness of the business model and execution excellence.

“In an environment of global macro uncertainty, we are staying close to our customers and helping them execute on their core priorities with TCS' portfolio of offerings, innovation capabilities and thought leadership,” he said.

For the full fiscal year 2024, the IT company's net profit grew 9 per cent to ₹45,908 crore, while the revenue rose to ₹2,40,893 crore from ₹2,25,458 crore in FY23.

OTHER NEWS

2 hrs ago

Iran's Raisi buried in Mashhad as mourners pack Iranian holy city

2 hrs ago

Heatwave superfood: Drink Torani or rice water to keep your body cool, hydrated; know how to make it

2 hrs ago

Business News: Market Cap Of BSE Co Hit $5 Trillion, Nvidia Earnings Awaited, Air Traffic Rose 2.4%

2 hrs ago

Hosts USA pull off back-to-back upsets over Bangladesh to seal maiden T20I series

2 hrs ago

Jarred Kelenic homers, AJ Smith-Shawver works 4 1/3 strong innings as Braves top Cubs 3-0

2 hrs ago

Heatwave Alert Live Updates: Severe heatwave conditions to continue in Delhi, Rain wreaks havoc in Kerala

2 hrs ago

‘Start building components, parts outside China, Taiwan from 2025’: Tesla to manufacturing partners

2 hrs ago

Carl Pei hints at new features in Nothing Phone 3 with redesigned quick settings preview

2 hrs ago

UK Government Emergency Kit: List Of Items To Prepare For Pandemic-Like Situation

2 hrs ago

KKR's Andre Russell Pleads "Missing Puzzle" Sunil Narine to Come Out of Retirement for West Indies Ahead of 2024 T20 World Cup

2 hrs ago

Better than previous! DIVIDEND update by auto-component maker

2 hrs ago

Dollar Industries: New Launches In Pipeline For Expansion Of Business Globally | Vinod Kumar Gupta

2 hrs ago

Ericsson India in talks with Vodafone Idea for a 5G deal: India MD

2 hrs ago

Anand Mahindra gives a shoutout to Nag Ashwin; shares how they built Bujji for Prabhas-starrer Kalki 2898 AD

2 hrs ago

India's Travel Trends 2024: International Trips Soar By 21% Since 2019

2 hrs ago

Short Call: Market warming for rain dance post poll vault; Concor, GR Infra, Metropolis Health, BHEL, BEL in focus

2 hrs ago

Malaysia Masters 2024: PV Sindhu survives scare in 2nd round, Ashmita stuns 3rd seed

2 hrs ago

My parents have always encouraged me to make my own decisions: Saras Menon

2 hrs ago

Kerala rain: CM Vijayan advises people to remain cautious amid IMD's red alert in state | Details

3 hrs ago

Palestine Prime Minister writes to PM Modi, blames Israel for ex-Army officer's death

3 hrs ago

Take a look at accessories on the new Ather Rizta family electric scooter Review coming on May 24

3 hrs ago

RBI approves record dividend of Rs 2.11 lakh crore to government for FY24

3 hrs ago

'Further bolster...' : Maldives set to launch India's RuPay service

3 hrs ago

Steelers third-year WR feels 'culture, energy' shift

3 hrs ago

We Must Ensure Minority Groups Feel They Have An Equal Stake In Democracy: US Envoy Eric Garcetti

3 hrs ago

BMW 220i M Sport Shadow Edition launched in India, priced at ₹46.90 lakh

3 hrs ago

Virat Kohli opens a branch of his popular restaurant One8 Commune in Hyderabad, says, "your dining rituals are now gonna level up"

3 hrs ago

Revenue growth of road transport fleet operators to double to 9-11% this fiscal, says CRISIL

3 hrs ago

Moscow seeks visa-free deal to attract Indians

3 hrs ago

Old chatai to chips packet: How homegrown designers are redefining sustainability

3 hrs ago

'Flop film of Do Shehzade' vs 'new film on June 4': PM Modi takes a dig, Akhilesh Yadav hits back

3 hrs ago

T20 World Cup 2024: Lalit Modi Claims ICC Selling Tickets at '$20,000 Per Seat' for India vs Pakistan Match

3 hrs ago

Xiaomi Redmi Pad SE tablet and Redmi Buds 5A launched in India- Check details

3 hrs ago

RCB had special season turning it around with six wins in six: Skipper Faf

3 hrs ago

Top 10 must-visit Buddhist monasteries and temples in India

3 hrs ago

Mrunal Thakur: South is where my heart is and Bollywood is home to me

3 hrs ago

vivo V30e Smartphone Review: A mid-range marvel with stunning looks and standout cameras

3 hrs ago

A tale of takeover: How Tata has put spotlight on EVs at a former Ford facility

3 hrs ago

Western analysts misread Russia, China. Together they have bypassed the dollar

3 hrs ago

Janhvi Kapoor's Visit to Gaur City Mall Creates Fan Frenzy

Kênh khám phá trải nghiệm của giới trẻ, thế giới du lịch