TCS sets November 7 as record date for dividend, shares advance

Posted on by

Tata Consultancy Services Limited’s shares were up by 0.78 per cent after the company has set October 17, 2023 as the record date for its second interim dividend. Earlier this week, the company declared a dividend of ₹9 per equity share of ₹1 each. This dividend will be disbursed on November 7, 2023.

The company’s revenue in Q2 FY24 reached ₹59,692 crore, reflecting a year-on-year growth of 7.9 per cent. This was attributed to strong demand in the UK, energy, resources, and utilities sectors, and manufacturing. Operating margins expanded to 24.3 per cent, driving an 8.7 per cent year-on-year growth in net income.

Additionally, TCS disclosed an order book of $11.2 billion and a book-to-bill ratio of 1.6. TCS has also been making investments in its workforce, with a focus on GenAI technologies.

The shares were up by 0.78 per cent to ₹3,570 at 2.34 pm on the BSE.