900% Dividend: Tata Stock Will Trade Ex-Dividend Next Week, Shares Advance

Large cap Tata Group stock Tata Consultancy Services (TCS) declares second interim dividend of Rs 9 per share on October 11, 2023. TCS shares rallied 0.79% on October 13 to 3570.30 per share on BSE after the company declared interim dividend, approved share buyback of nearly 4.09 crore shares at Rs 4150 per share valued at Rs 17,000 crore, and declared a net profit of Rs 11,432 crore in September quarter, up 8.7% as against Rs 10,431 crore in the corresponding period of last year. TCS stock rallied 15% in last 1-year and declined 2.35% in last 2-years.
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TCS Declares Rs 9/Share Dividend: According to the BSE filing of the company dated October 11 the company announced second interim dividend of Rs 9 per equity share of Re 1 each of the company. The second interim dividend shall be paid on Tuesday, November 7, 2023, 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 Thursday, October 19, 2023, which is the Record Date fixed for the purpose.

TCS Stock Performance & Return: Last trading price of Tata Consultancy Services share on BSE is Rs 3570.30 per share with intraday gain of 0.79%. Its 52-week high price is Rs 3680.00 and 52-week low price is Rs 3053.30 per share, respectively. The company has a market capitalisation of Rs 13,06,391.11 crore. TCS stock surged 12% in last 6-months, gained 26% in last 3-years, and offered a rally of 86.11% in last 5-years. In last 10-years, TCS stock soared 236.18%.

Q2 Result: TCS operating profit during Q2 soared 9.1% to Rs 14,483 crore and operating margins widened by 25 bps to 24.3%. It is worth mentioning here that in the Q2 results of TCS, the US Dollar revenue fell for the first time in 17 quarters. Revenue in US Dollar terms declared at $7.2 billion. Sequentially, the company's US Dollar revenue fell by 0.2%.

Attrition Rate & Work From Home: Attrition rate at TCS declined 14.9% during the quarter against 17.7% in the previous quarter. 'The employee base continues to be very diverse, with 35.8% women and with 152 nationalities,' said the company. The company also issued a statement on work from home and said, "We have the system, and rules to adapt ourselves for the right things in every project. We discussed this internally and now we advise employees to come to the office and the advantages are being realised. 70% of employees are already coming to the office now. It is advisable for all to come to the office and it is the need of the hour and this is the TCS way of working."

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