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Tata Consultancy Companies, India’s largest IT companies firm, on Friday declared a closing dividend of Rs 28 per share for the monetary yr 2023-24. Together with Rs 45 per share dividend introduced earlier, the overall TCS dividend for FY24 stood at Rs 73 per share. The TCS board authorised the dividend proposal whereas saying the IT agency’s March quarter outcomes. The proposal will now be up for shareholder approval at TCS’ upcoming twenty ninth Annual Basic Assembly (AGM).
Earlier than this, TCS introduced an interim dividend of Rs 9 per cent share and a particular dividend of Rs 18 per share publish its third quarter outcomes. TCS declared interim dividends of Rs 9 every within the second and first quarter. Moreover, it additionally got here out with Rs 17,000 crore share buyback in FY24.
TCS introduced a closing dividend of Rs 24 per share in FY23. In whole, it paid Rs 115 per share dividend within the earlier monetary yr, amounting to Rs 33,306 crore. The dividend yield stood at 3.59 per cent. TCS paid Rs 7,686 crore in dividend in FY22, Rs 8,510 crore in dividend in FY21 and Rs 25,125 crore in dividend in FY20.
TCS paid Rs 43 per share dividend in FY22, Rs 38 per share dividend in FY21 and Rs 72 per share dividend in FY20. TCS has a coverage of returning 80-100 per cent of free money move (FCF) to firm shareholders. In FY23, its whole payouts stood at 110 per cent of FCF.
TCS This autumn Efficiency
TCS recorded a 9% improve in internet revenue, reaching Rs 12,434 crore for the fourth quarter of FY24, in comparison with Rs 11,392 crore within the corresponding interval final yr.
In an change submitting on April 12, the IT main disclosed that income climbed by 3.5% to Rs 61,237 crore for the three months ending on March 31.
On a sequential foundation, revenue after tax jumped 12%, in contrast with Rs 11,058 crore clocked within the previous December quarter. Revenues had been up 1% quarter-on-quarter (QoQ).
The software program main closed the fourth quarter with report offers value $13.2 billion and the FY24 order e-book TCV (whole contract worth) stood at an all-time excessive of $42.7 billion.
“We’re very happy ending FY24 on a powerful notice with the highest-ever order e-book and a 26% working margin, validating the robustness of our enterprise mannequin and execution excellence,” mentioned Ok Krithivasan, CEO and MD, TCS.
