Dividend Stock: This Tata Group giant rewards shareholders after quarterly earnings

The company reported a revenue that was higher than analyst estimates, as per a CNBC-TV18 poll. The company reported revenue of ₹60,583 crore, which was higher than estimates of ₹59,950 crore.

Revenue in US Dollar terms stood at $7,281 million, which was marginally higher than the CNBC-TV18's poll of $7,195 million.

TCS reported EBIT or Earnings Before Interest and Tax of ₹15,155 crore during the quarter, which was 4.6% higher sequentially and also surpassed estimates of ₹14,600 crore. EBIT margin expanded by 70 basis points to 25%, which was higher than the 24.4% expectation.

Deal wins during the quarter stood at $8.1 billion. The Tata Group giant had won deals worth $11.2 billion during the quarter.

While announcing its second-quarter results, TCS had announced a second interim dividend of ₹9 per equity share last year. The record date for the same was on October 19, 2023.

Data available with Trendlyne suggests TCS has declared 82 dividends since October 28, 2004.

In the past 12 months, the IT major has declared an equity dividend amounting to ₹117 per share. At the current share price of ₹3,736.60, this results in a dividend yield of 3.13%.

Shares of TCS will likely trade ex-dividend a day or two days before the record date. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. An ex-dividend date also dictates which shareholders are eligible to receive the dividend payment.

On Thursday, shares of TCS settled 0.37% higher at ₹3,726.70 on the NSE. The scrip fell over a percent so far this year and has risen about 12% in the past 12 months.