Tata Consultancy Services Ltd. (TCS), the largest domestic software exporter, on Thursday (July 11) announced an interim dividend of Rs 10 per share for the financial year 2024-25.
The record date for the same has been fixed on July 20, 2024. The dividend would be paid on August 5, 2024, to the equity shareholders of the company.
TCS Dividend History
For the year ending March 2024 Tata Consultancy Services has declared an equity dividend of 7300.00% amounting to Rs 73 per share. At the current share price of Rs 3910.20 this results in a dividend yield of 1.87%.
The company has a good dividend track report and has consistently declared dividends for the last 5 years. TCS has declared 85 dividends since October 28, 2004.
TCS Q1 Results Declared: Meet Street Expectations
TCS reported a rise in net profit for the first quarter of financial year 2024-2025. TCS net profit rose 9 per cent to Rs 12,040 crore from Rs 11,074 crore in the year-ago period.
Revenue from operations increased 5 per cent to Rs 62,613 crore for the June quarter as against Rs 59,381 crore in the same quarter last fiscal.
TCS said all major markets returned to sequential growth. The IT firm said it saw double-digit growth in Emerging Markets, led by India (up 61.8 per cent YoY). Almost all verticals returned to sequential growth; YoY growth was led by Manufacturing (up 9.4 per cent), Energy, Resources & Utilities (up 5.7 per cent), and Life Sciences & Healthcare (up 4 per cent).
TCS Attrition
IT Services attrition rate came in at 12.1 per cent, TCS said.
What Did The TCS Management Say?
K Krithivasan, Chief Executive Officer and Managing Director, said: “I am pleased to report a strong start to the new fiscal year with all-round growth across industries and markets. We are continuing to expand our client relationships, create new capabilities in emerging technologies and invest in innovation, including a new AI-focused TCS PacePort™ in France, IoT lab in the US and expanding our delivery centers in Latin America, Canada and Europe.”
Samir Seksaria, Chief Financial Officer, said: “In spite of the usual impact of the annual wage increments in this quarter, we have delivered strong operating margin performance, validating our efforts towards operational excellence. We remain focused on making the right investments in R&I and talent, strengthening our superior return ratios and creating long term value for our stakeholders.”