TCS share price has gained about 13 per cent in the last three years, slightly more than the 12 per cent gains in the equity benchmark Sensex.
TCS (Tata Consultancy Services) stock is in the spotlight today as it goes ex-dividend on Thursday, October 19. In the morning BSE trading, TCS’s share price declined by about 1%. It opened at ₹3,473.95, lower than the previous closing price of ₹3,487.15, and reached an intraday low of ₹3,451.85. As of 11:25 am, the stock was trading at ₹3,456.75 on the BSE, down by 0.87%.
The IT giant has declared a second interim dividend of ₹9 per equity share with a face value of ₹1 for the financial year 2023-24. The record date for this dividend is also October 19, 2023.
This second interim dividend will be disbursed on Tuesday, November 7, 2023, to the equity shareholders of the company whose names are listed on the Register of Members of the company or in the records of the depositories as beneficial owners of the shares as of Thursday, October 19, 2023.
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TCS, as per Trendlyne data, has announced 81 dividends since October 28, 2004. Over the last 12 months, TCS distributed a dividend of ₹108.00 per share. With the current share price at ₹3487.25, this translates to a dividend yield of 3.10 percent, according to Trendlyne data.
Meanwhile, in the September 2023 quarter, TCS reported a net profit of ₹11,432 crore, marking an increase of 8.7 percent compared to ₹10,431 crore in the same period last year. On a sequential basis, the consolidated net profit grew by 2.4 percent, with TCS posting a profit of ₹11,074 crore in the June 2023 quarter.
The company’s revenue from operations in Q2FY24 stood at ₹59,692 crore, showing a 7.9 percent increase compared to ₹55,213 crore reported in the corresponding period of FY23.
The TCS board has approved a buyback of ₹17,000 crore at a price of ₹4,150 per equity share, as per a regulatory filing. This buyback price represents a premium of around 15 percent.
TCS’s stock price has risen by approximately 13 percent over the past year, slightly outperforming the 12 percent gain in the Sensex equity benchmark.
The stock reached its 52-week high of ₹3,680 on October 9 this year, and its 52-week low of ₹3,070.30 on April 17 this year on the BSE. As of the October 18 closing, in about six months, the stock has increased by just over 14 percent from its 52-week low.
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