An interim dividend of Rs 8 a share has been declared by the TCS company for equity holders; here is what investors should know
TCS company announces an interim dividend of Rs 8 for quarter one: India’s largest IT services company Tata Consultancy Services (TCS) declared an interim dividend of Rs 8 for quarter one. For this, the company has established July 16 as the record date and August 3 as the payment date.
An interim dividend of Rs 8 a share has been declared by the TCS company for equity holders; here is what investors should know
The company’s board of directors has declared an interim dividend of Rs 8 per equity share of Rs 1 each at today’s meeting, TCS said in a BSE filing. The company’s earnings per share rose to Rs 25.9 from Rs 24.35 last year in the June 2022 quarter.
In a communication, TCS said its interim dividend will be paid to equity shareholders whose names appear on the company’s book of members or on the records of the depositories as beneficial owners as of July 16.
Buybacks and dividends yielded a total return to shareholders of Rs 31,424 crore in 2021-22. A 22-rupee final dividend was announced by TCS company for the month of January to March 2022.
BSE shares of TCS fell by 22.10 rupees, or 0.67 percent, to close at Rs 3,264.85 apiece on Friday.
A total of 14,136 employees were added to TCS in Q1FY23, crossing 600,000 employees; however, attrition increased
A total of 14,136 new employees were hired by India’s largest information technology services company during the quarter ended June 30.
As of the end of the first quarter of the financial year 2023, Tata Consultancy Services (TCS) had a total headcount of 606,331.
A total of 14,136 new employees were hired by India’s largest IT services firm during the quarter.
At the end of the first quarter of FY22, TCS company reached the milestone of 500,000 employees.
In the April-June quarter last year, the IT giant had a total of 20,409 employees, its highest quarterly net headcount ever.
Incorporating learning with career development and investing in strategic talent development initiatives have energized our workforce.
The top performers received even bigger raises after our annual compensation review,” said Milind Lakkad, chief human resources officer.
We attracted nearly 600,000 new employees in the quarter, due in part to our empowering, performance-driven work culture.
According to TCS’s BSE filing, the company’s workforce is extremely diverse, with 153 nationalities represented and 35.5 percent women.
In Q1FY23, the attrition rate reached 19.7 percent, which was the highest in six quarters for the Bengaluru-based IT giant. In the quarter ending March 2022, it was 17.4 percent.
When commenting on the attrition rate at a press conference, TCS CEO Rajesh Gopinathan suggested that attrition be considered from a seasonal perspective as well.
We expect that it will continue to flatten in part of Q2, even though it is continuing to grow on an absolute basis.
The moderation will begin to take effect in H2. Those are our immediate short-term views on attrition, but from a medium- to long-term perspective, it seems that both supply and demand sides are easing up, in terms of talent coming in from outside the immediate industry system, which should play into moderation.