TCS considers ex-dividend on Oct 19; likely to trade on the day

TCS considers ex-dividend on Oct 19; likely to trade on the day

The company has considered an interim dividend to be paid to equity shareholders on October 19th. TCS shares will likely trade ex-dividend on the day or a day before the record date.

TCS said in a filing that it expects to file a civil lawsuit against the company.

The IT firm also declared an interim dividend of Rs 9 per share in Q1 2023 to its shareholders, a value of Re 1 each. The interim dividend is paid to equity shareholders of the company, who appear on the register of members or in depositories as beneficial owners of the shares.

The IT bellwether's shares were trading at 3,530.75 apiece on the BSE and 3,525 apiece on the NSE on Friday. The end of September saw the TCS record five block deals worth Rs 197 crore. At an average price of 3.529 rupees, around 55.07 lakh shares changed hands.

The IT bellwether posted an on-year increase of 16.83 percent in its net profit for the quarter of June 2016 to Rs 11,074 crore. TCS generated a net profit of 9,478 crore in the same period last year. TCS's Q1 revenue rose 121.5 percent to Rs 59,381 crore from Rs 52,758 crore in the same quarter last year. EBIT margin for the quarter rose to 23.10 percent, up by 10 basis points year-on-year. In the same period, the same deal won $10.20 billion.

The UK led the growth with a 16.1 percent increase, North America 4.6 percent and Continental Europe 3.4 percent. The United States grew 15.2 percent, India 14 percent, Latin America 13.5 percent, and Asia-Pacific 4.7 percent.

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