TCS, HCL Technologies shares to turn ex-dividend today. Key details

Shares of two IT firms namely Tata Consultancy Services (TCS) and HCL Technologies Ltd (HCL Tech) will turn ex-dividend today. Friday is also the record date for the purpose of determining eligible TCS shareholders. All eligible TCS shareholders with their names in the list at the end of record date will be eligible to receive dividend. For HCL Tech, the record date is Saturday, January 20.

To recall, TCS had recommended a special dividend of Rs 18 per share and an interim dividend of Rs 9 per cent share while reporting its December quarter results. HCL Tech had, on the other hand, announced an interim dividend of Rs 12 per share.

TCS had announced a dividend of Rs 9 per share in the September quarter and a similar dividend post June quarter results. In total, TCS has announced dividend of Rs 45 per share in FY24 so far. In the case of HCL Tech, the IT firm had announced Rs 12 per share dividend in the September quarter and Rs 10 per share dividend in the June quarter.

In the case of TCS, the K Krithivasan-led IT firm clocked a 1.96 per cent year-on-year (YoY) increase in consolidated net profit at Rs 11,097 crore for the December quarter, hurt by Rs 958 crore or $125 million one-time charge towards settlement of legal claim. The profit growth lower than analyst projections of 7-11 per cent growth.

HCL Technologies had logged 6.23 per cent jump in the December quarter profit at Rs 4,351 crore compared with Rs 4,096 crore in the year-ago period. The Noida-based IT firm said its total income rose to Rs 28,816 crore in the third quarter from Rs 26,960 crore in the same quarter last year.

Also read: Stock recommendations by analyst for Jan 19, 2024: Suzlon Energy, BHEL & Metropolis Healthcare