TCS Stock Slips 1% on Ex-Dividend Trading

15 Jun 2023 , 11:37 AM

Shares of Tata Consultancy Services (TCS) experienced a one % decline on June 15, attributed to the stock trading ex-dividend. The company had previously announced June 15 as the record date for shareholders to receive dividend benefits.

In the previous month, TCS revealed its plan to distribute a final dividend of Rs 24 per equity share. This implies that each TCS shareholder will receive a dividend of Rs 24 for every share they own.

The ex-dividend date commonly leads to a decrease in stock price equivalent to the dividend amount. Despite the stock decline, a prominent domestic brokerage firm maintains a positive outlook on TCS, considering the company’s size, order book, and exposure to long-duration orders and portfolios. The firm believes that TCS is well-positioned to withstand the weakening macro environment and capitalize on the anticipated growth in the industry.

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