Tata Group Stock Declares Second Interim Dividend At Rs 8 Per Share, Stock Soars

Tata Group stock, Tata Consultancy Services Ltd has finally declared its second interim dividend on Monday, October 10, 2022. The company announced a dividend of Rs 8 per share at around 5 pm today in its regulatory filing. Earlier, the stock gained 1.84% to close at Rs 3121 apiece. Check key takeaways pertaining to dividend amount and more below:

1. TCS Declares Rs 8 Per Share Dividend

The board of directors of TCS in the exchange filing stated, "We enclose the audited standalone financial results of the Company and audited consolidated financial results of the Company and its subsidiaries for the quarter and six month period ended September 30, 2022 under Ind AS, which have been approved and taken on record at a meeting of the Board of Directors of the Company held today. We would like to inform you that at the Board Meeting held today, the Directors have declared a second interim dividend of ₹8 per Equity Share of ₹1 each of the Company."

The second interim dividend shall be paid on Monday, 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 Tuesday, October 18, 2022, which is the Record Date fixed for the purpose.

2. TCS Stock Outlook

The last trading price of the stock is Rs 3121 apiece with a gain of 1.84% in trade today. The stock's 52-week high is Rs 4045 apiece and 52-week low is Rs 2926 apiece, respectively.

3. TCS Market Capitalisation

The company has a market capitalisation of Rs 11,42,063.11 crore today.

4. TCS Dividend History

TCS has an attractive dividend history and regularly declared dividend in the last 5 years. The company for the quarter ended March 2022 announced a strong dividend of 4300.00% or Rs 43 per share. If the current stock price of Rs 3121 is taken into consideration, it has an approximate dividend yield of 1.38%.

5. TCS 5-Years Return

The company has given multibagger returns to investors with 5-years return at 153%, 3-years return at 55%, and a negative return of 21% in 1-year.

6. TCS Q2 Result

The profit has risen 8% YoY and has managed to beat estimates. TCS announced an 18% YoY growth in its revenue at Rs 55,309 crore while the net profit surged 8.4% YoY to Rs 10,431 crore.

7. About the company

A part of the Tata group, India's largest multinational business group, TCS has over 592,000 of the world's best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India.

TCS offers a consulting-led, cognitive-powered, integrated portfolio of business, technology, and engineering services and solutions. This is delivered through its unique Location Independent Agile^TM delivery model, recognized as a benchmark of excellence in software development, according to its official website.