India's leading information technology exporter, Tata Consultancy Services (TCS), has lined up a fresh cash distribution for its equity investors. The prominent Tata Group enterprise recently announced its second interim dividend payout for the ongoing fiscal period following an official exchange communication. Under this corporate action, equity holders will receive Rs 12 on each equity share possessing a face value of Re 1.
Share Eligibility Set for October 14 Record Date
The timeline for this dividend distribution coincided with the unveiling of the company's financial report for the second fiscal quarter on Thursday of the current week. In its regulatory disclosure, the software major designated Wednesday, October 14, as the official record date. Consequently, the company's shares are scheduled to trade on an ex-dividend basis starting on October 14, establishing the final register of members eligible for the payout.
Direct Bank Account Payout Slated for October 30
Investors aiming to qualify for this Rs 12 per share dividend distribution must complete their purchases prior to the cut-off threshold. To secure eligibility on the record day, market participants must hold or purchase the stock by Tuesday, October 13. The corporate filing further confirms that the dividend proceeds will be electronically credited to the verified bank accounts of eligible shareholders on Friday, October 30.
Second Quarter Delivers Notable Growth in Earnings and Revenue
The capital return comes against the backdrop of an expanding earnings profile. During its corporate announcement on October 8, the IT giant posted a 15 percent year-on-year jump in consolidated net profit, which climbed to Rs 13,884 crore for the second quarter. Topline performance kept pace, as overall quarterly revenue expanded by 11.22 percent to reach Rs 73,188 crore over the same comparable stretch.
Stock Climbed Sharply During Friday's Trading Session
Market reception to the operational figures and cash return was visibly constructive on the bourses during the final trading window of the week. On BSE, the counter registered a notable gain of 4.23 percent, or Rs 87.75, settling at Rs 2163.00 per share. Across Friday's session, the stock fluctuated between an intraday peak of Rs 2204.00 and an intraday low of Rs 2088.00. Currently, the equity holds a 52-week high of Rs 3336.70 alongside a 52-week low of Rs 1976.00.
