TCS dividend announced!

For its investors, TCS announced an interim dividend of Rs 7 and a special dividend of Rs 67 per share.

“We would like to inform you that at the Board Meeting held today, the Directors have declared a third interim dividend of Rs8 and a special dividend of Rs67 per Equity Share of Rs1 each of the Company,” TCS said in a stock exchange filing.

A dividend is a reward company that often provides to their shareholders, though not mandatory, from a portion of their earnings.

Shareholders whose names appear on the Register of Members of the Company or in the Depositories' records as beneficial owners of the shares will receive the 3rd interim dividend and special dividend on February 3, 2023.

The record date fixed for the purpose is January 17, 2023. The record date is to ascertain shareholders' eligibility for dividend payment.

For the quarter ended December 2022 (Q3FY23), the IT services company reported a 10.98% rise in consolidated net profit to Rs 10,883 crore. The company had posted a profit of Rs 9,806 crore in the year-ago period.

During the quarter that ended in December 2022, TCS reported revenue growth of 19.1% year-over-year. During the December quarter, the software giant's net income grew 11% to Rs 10,846 crore, while its net margin was 18.6%.

TCS said 35.7% of its workforce were women and of 153 nationalities.