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TCS pays interim dividend

The country’s largest IT services firm said in a regulatory filing to the stock exchanges that its board on Tuesday has declared an interim dividend of Rs 12 per share
The interim dividend will be paid on March 24, to the shareholders of the company, “whose names appear.. as beneficial owners of the shares as on March 20, 2020”, TCS said.
The interim dividend will be paid on March 24, to the shareholders of the company, “whose names appear.. as beneficial owners of the shares as on March 20, 2020”, TCS said.
(iStock)

TT Bureau   |   Mumbai   |   Published 10.03.20, 07:09 PM

The boards of Tata Consultancy Services (TCS) and TVS Motors have declared an interim dividend on Tuesday.

The country’s largest IT services firm said in a regulatory filing to the stock exchanges that its board on Tuesday has declared an interim dividend of Rs 12 per share.

The interim dividend will be paid on March 24, to the shareholders of the company, “whose names appear.. as beneficial owners of the shares as on March 20, 2020”, TCS said.

In a separate announcement, TVS Motors said that its board has declared a second interim dividend, for the fiscal year ended March 31 2020, at Rs 1.40 per share. It added that this will absorb a sum of Rs 80 crore, including a dividend distribution tax.

During the third quarter ended December 31, 2019, TCS posted a net profit of Rs 8,118 crore compared with Rs 8,105 crore in the corresponding period of last year.

During the period, the IT services firm posted revenues of Rs 39,854 crore, a rise of 6.8 per cent over the same period last year and 0.3 per cent, sequentially. In dollar terms, the revenues came in at $5.5 billion , a rise of 6.4 per cent.

On Monday, the shares of TCS had closed 6.88 per cent, or Rs 145.70 lower, at Rs 1,972.20. However, its market capitalisation stood at Rs 7,40,045.31 crore overtaking that of Reliance Industries whose scrip fell more than 12 per cent.



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