TCS Dividend: IT giant declares 2400% final dividend for FY23

TCS final dividend date 2023: IT sector major Tata Consultancy Services Ltd on Wednesday recommended a final dividend for FY23 to its shareholders. 

According to an exchange filing by TCS, the board of the company has approved the payment of Rs 24 dividend per equity share of face value of Rs 1 each.

"We would like to inform you that at the Board Meeting held today, the Directors have recommended a Final Dividend of ₹24 per Equity Share of ₹1 each of the Company which shall be paid/dispatched on the fourth day from the conclusion of the 28th Annual General Meeting, subject to approval of the shareholders of the Company." the exchange filing reads.

The dividend was eagerly awaited after TCS paid a total of three interim dividends in FY23. 

Earlier, in a regulatory filing, TCS had said  that it "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 is known to pay high dividends. Just in the last 12 months, TCS has paid three interim dividends, one special dividend, and one final dividend (today).

It paid its first interim dividend on July 14, 2022, of Rs 8.

Interim dividends of the same value were also paid to shareholders on October 17 and January 16.

The company also paid a special dividend of Rs 67 on January 16 this year.

With three interim dividends, one special dividend, and one final dividend, TCS has paid a total equity dividend of 11,300 per cent aggregating to Rs 113 per share.

The company maintained its status of a good dividend payee in FY22 as well when it paid three interim dividends of Rs 7 each and a final dividend of Rs 22.

The company is leader in its field with a market cap of Rs 11.83 lakh crore.