IT giant Tata Consultancy Services (TCS) kicks off its IT department’s FY23 third quarter earnings season on January 9th. The flagship company of the Tata Group will announce its third interim dividend on this date. However, TCS has already established a record date for this dividend. TCS has a strong track record of paying dividends to shareholders. The company’s stock price will be closely watched as a result of these developments.
In its December 30 regulatory filing, TCS said, “The third interim dividend, if declared, will be distributed to shareholders of the company named as beneficiaries in the company’s shareholder register or depository records. shall be paid to.” He is the owner of the shares on Tuesday, January 17, 2023, which is the record date set for this purpose. ”
With the record date for the third interim dividend set on January 17, TCS shares will be ex-dividend on January 16. An ex-dividend date is the date on which the price of a company’s stock is adjusted for dividend payments. Ex-dividends are typically one business day prior to the record date.
It should be noted that dividends received by shareholders from the company are subject to withholding tax (TDS).
According to the TCS filing, individual shareholders who are residents of the PAN and are not liable to pay income tax can file an annual return on Form No 15G/15H and benefit from the non-deductible tax. However, shareholders who do not have a registered Permanent Account Number (PAN) or have an invalid PAN, or have certain individuals as defined under Section 206AB of the Income Tax Act (the “Act”) For shareholders, tax is deducted at a higher rate. As applicable, provided under Section 206AA or 206AB of the Act.
“Specified person” means that Section 139 (139 (1) ) has expired and total TDS and taxes withheld is ¥Over 50,000 in the year before that.
So far in FY23, the company has paid a total dividend of 1600%. ¥16 shares per share.the company had announced ¥including first interim dividend of $8 per share paid in July 2022 ¥The second interim dividend for this fiscal year, which was implemented in October 2022, is 8 yen per share.
In 2022 alone, IT giants paid 4,300% stock dividends. ¥43 per share to shareholders.
TCS will also report its third quarter 2023 financial results on January 9.
In the September 2022 quarter, TCS reported net income attributable to shareholders of ¥$1,043.1 billion in Q1 2023, up 8.4% year-on-year and up 10.-5% quarter-on-quarter.Consolidated operating revenue ¥$5,530.9 billion, up 18.01% year-on-year and up 4.84% quarter-on-quarter. During the quarter, TCS recorded growth across industries and in key markets. And its order book remains strong.
As of September 30, 2022, TCS had 616,171 employees, with a net addition of 9,840 during the quarter. IT services declined by 21.5% over the last 12 months. TCS expects turnover to gradually decline in the second half of FY23.
In BSE, the TCS strain is ¥Friday’s 3,259.25 was down slightly compared to the previous close. ¥3,269.25 pieces. TCS is he second largest company in market share after RIL. Evaluation of TCS completed as of December 30, 2022 ¥1.192 billion rupees.
At the current closing price, TCS’ dividend yield is approximately 1.32%.
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