TCS to recommend final dividend for FY23 tomorrow, record date expected too

TCS to recommend final dividend

Investors will also be closely watching TCS’s final dividend for the fiscal year FY23. The company, which is owned by the Tata Group, has already given out three interim dividends and will recommend a final dividend on Wednesday. TCS is likely to announce the final dividend and a record date for it at the same time.

TCS said in a regulatory filing that it would “recommend a final dividend, if any, on the equity shares of the Company for the financial year ending March 31, 2023, for approval by the shareholders at the next 28th Annual General Meeting.”

On April 12, TCS will show its earnings report for the quarter that ends on March 31, 2023 (Q4FY23).
TCS is one of the biggest companies that gives its shareholders high dividends.

So far in FY23, TCS has paid an interim dividend of 8 per share and a special dividend of 67 per share. For both of these, the stock went ex-dividend in January 2023. Including special dividends, this would be the third interim dividend.

The first interim dividend, worth 8 pounds per equity share, was paid in July 2022. In October of last year, a second interim dividend of 8 pounds per share was also announced.

So far in FY23, the company has paid out a total equity dividend of 9,100%, which is equal to 91 per share. After the fourth interim dividend payment, this number for the same fiscal year will go up.

In FY22 alone, TCS paid out dividends that added up to 43 per equity share, or a total of 43 million. The company gave its shareholders 38,010 crore, which was 12.2% more than the year before. Dividends, including unpaid dividends, buyback, and taxes were all part of the payout.

On BSE, the price of a TCS share ended the day at 3214.25, which was down by 1.50%. The market value of the company is more than 11.76 lakh crore.

Usually, the record date for a dividend is the day that the company’s board plans to use to figure out which shareholders are eligible for dividend benefits. Also, the ex-dividend date is the date when the price of a company’s equity shares is changed to reflect the dividend payment.

Source: Team CurrencyVeda