TCS to trade ex-dividend on Monday: Here are the record and payment dates

Record Date for Total Dividends 75 per share is January 17, 2023, i.e. the eligibility of investors for dividend will be decided on the basis of their holding in the stock as on the said date.

Since the interim dividend will be paid on an ex-date basis, the stock is going to trade ex-dividend on Monday.

3rd Interim Dividend and Special Dividend will be paid to the eligible shareholders of TCS On February 3, 2023.

“The third interim dividend and the special dividend will be paid on February 3, 2023 to the equity shareholders of the company whose names appear in the register of members of the company or in the records of the depositories as beneficial owners of the shares. by January 17, 2023, which is the record date fixed for the purpose,” the company said in a regulatory filing.

The IT giant has a strong track record of distributing dividends to its shareholders, declaring 77 dividends since October 28, 2004.

“Inflation momentum and US Fed’s decision will drive the overall market and TCS over the next 12 months. The IT major has managed to outperform the markets over the long term. Hence, we recommend long-term investors to buy the stock on every dip Because TCS is a consistent dividend payer,” said Kranti Bathini, equity strategist at Wealthmills Securities.

A dividend is a distribution of profits by a company to its shareholders. When a company makes a profit or surplus, it may pay a portion of the profit to shareholders in the form of dividends.

tcs third quarter earnings

TCS, the first among its peers to report quarterly earnings, missed profit estimates and faced challenges in Europe as clients tightened spending due to poor economic conditions.

Tata Group’s flagship reports lower-than-expected profit for the third quarter ending December 2022 10,846 crore, up 11% year-on-year.

The company said its workforce declined by 2,197 on a net basis to 613,974 on December 31, the first since the start of the pandemic, in the first quarter of fiscal 2021. In the quarter ended September, TCS added 9,840 employees.

The company has since slowed down hiring amid fears of an economic slowdown in key western markets.

The Mumbai-based company’s order book for the October-December period stood at $7.8 billion, down from $8.1 billion in the September quarter.

Market participants are keenly watching TCS for cues on the demand outlook for the sector, which is staring at the prospect of a slowdown in the US and Europe, from where it derives a major chunk of its revenue.

TCS CEO and MD Rajesh Gopinathan said the order win reflects the demand scenario.

“We are constructive on the US, cautious on Europe and positive on the UK, but accept that this could be volatile. Our posture is positive,” he said.

According to a report by Emkay Global Financial Services, “TCS reported better-than-expected revenue growth in the third quarter, while margins came in slightly below our expectations.”

TCS shares closed up 1.19% on Friday 3,374.20 on BSE at Rs. It closed 1.17% higher on the NSE. 3,373.25 per share. The market valuation of the company is around 12.35 lakh crores.