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India’s largest IT services company Tata Consultancy Services (TCS) on Monday declared its second interim dividend or Rs 8 per equity share. The record date for this has been fixed as October 18 and the payment date as November 7.
“We would like to inform you that at the board meeting held today (Monday), the directors have declared a second interim dividend of Rs 8 per equity share of Rs 1 each of the company,” TCS said in a statement on Monday.
It added that the second interim dividend shall be paid on November 7, 2022, to the equity shareholders of the company, whose names appear on the Register of Members of the company or in the records of the depositories as beneficial owners of the shares as on October 18, which is the record date fixed for the purpose.
Companies declare interim dividend payouts for shareholders, based on their earnings, every quarter; final dividends at the year-end; and an occasional special dividend.
In the previous quarter of April-June 2022, TCS declared its interim dividend of Rs 8 per equity share. It had returned Rs 31,424 crore worth of cash to shareholders through buybacks and dividends in the financial year 2021-22.
For the September 2022 quarter, TCS on Monday reported a consolidated net profit of Rs 10,431 crore , a jump of 8.4 per cent on a year-on-year basis. The company’s revenue during April-June 2022 rose 18 per cent to Rs 55,309 crore, compared with Rs 46,867 crore in the year-ago period.
Region-wise, during the quarter, overseas growth at TCS was led by North America which grew 17.6 per cent, followed by Continental Europe which saw a jump of 14.1 per cent, and the UK with 14.8 per cent growth. In emerging markets, India market grew 16.7 per cent, Latin America grew 19 per cent, Middle East & Africa grew 8.2 per cent and Asia Pacific grew 7 per cent.
Segment-wise, TCS’ growth during the September 2022 quarter was led by retail and CPG, which grew 22.9 per cent; followed by communications & media (18.7 per cent), and technology & services (15.9 per cent). Manufacturing as well as life sciences & healthcare verticals grew 14.5 per cent, while BFSI jumped 13.1 per cent.
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