TCS dividend: Tata Consultancy Services announces final dividend of Rs 15 per equity share
TCS Dividend News: Tata Consultancy Services (TCS) has announced a final dividend of Rs 15 per equity share to its shareholders. TCS, the country's largest IT major, said that the company's board has recommended a final dividend, taking the total dividend payout, including interim ones, to Rs 38 per share during FY21. The company had earlier paid interim dividends of Rs 5 per share, Rs 12 per share, and Rs 6 per share in the previous three quarters of the last fiscal.
TCS on Monday reported a 14.9 per cent jump in its consolidated net profit for the March quarter to Rs 9,246 crore on higher profit margins and revenue growth. It posted a marginal increase in reported post-tax profit at Rs 32,430 crore for FY21, despite a 4.6 per cent jump in revenue to Rs 1.64 lakh crore in the last fiscal.
The company, a cash-cow for the over USD 100 billion Tata Group, said it is optimistic from a demand perspective and is targeting to grow the topline in double-digits in the next few years. TCS chief executive and managing director Rajesh Gopinathan on an analyst call said that FY22 will be an "aberration" from a revenue growth perspective, hinting at the low base throwing up a higher growth number.
The company added 19,388 employees in the January-March period, making it the highest ever quarterly addition, and 40,000 employees during FY21 to take its overall base to 4.88 lakh. Its chief of human resources Milind Lakkad told reporters that the company does not see a significant challenge on talent supply, and has made an equal number of offers for hiring freshers from campuses as last year.
Additionally, the company announced the appointment of Samir Seksaria as Chief Financial Officer. Samir Seksaria will take over from Ramakrishnan V, who would be retiring at the end of this month.
READ MORE: TCS profit rises 14.9% to Rs 9,246 crore in fourth quarter
