TCS to recommend final dividend for FY23 tomorrow, record date expected too

In its regulatory filing earlier, TCS said, “recommend a final dividend, if any, on the equity shares of the Company for the financial year ending March 31, 2023, for the approval of the shareholders at the ensuing 28th Annual General Meeting.”

TCS will present its financial earnings for the quarter ending March 31, 2023 (Q4FY23) on April 12.

Generally, the record date for a dividend is the day which is proposed by the company’s board to identify the names of eligible shareholders for dividend benefits. Further, the ex-dividend date is the day when the price of the equity shares of a company gets adjusted for the dividend payout.

TCS is among the kings to pay high dividends to its shareholders.

So far in FY23, TCS has paid an interim dividend of ₹8 per share and a special dividend of ₹67 per share — for both, the stock turned ex-dividend in January 2023. These would be the third interim dividends including special dividends.

The first interim dividend was in July 2022 at ₹8 per equity share. A similar ₹8 per share dividend was announced as the second interim in October last year.

That being said, as of now, in FY23, the company has paid a total equity dividend of 9,100% aggregating to ₹91 per share. Post the fourth interim dividend payment, this figure will rise for the said fiscal.

In FY22 alone, TCS paid a total dividend of 4300% aggregating to ₹43 per equity share. The company’s shareholders pay-out stood at ₹38,010 crore up by 12.2% yoy. The pay-out included dividends (including unpaid dividends), buyback, and taxes.

On BSE, TCS share price closed at ₹3214.25 apiece down by 1.50%. The company’s market cap is over ₹11.76 lakh crore.