INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Tata Consultancy Services (TCS), India's largest IT company, has announced 600 per cent dividend even as the management
1 each of the company, which shall be paid/dispatched on the fourth day from the conclusion of the annual general meeting, subject to
12 per equity share amounting to Rs 4,503 crore in a bonanza for the parent company
comes out to be Rs 18 per share
Promoters will take home Rs 1,622 crore from the final dividend payout, taking the total amount to Rs 4,866 crore for the March quarter
Historically, cash dividends from TCS have helped the promoter to fund debt and invest in other businesses
The timing of the announcement could not have been more suitable as the shuttering of businesses have pushed businesses to a brink.
Late
last year, Tata Sons infused Rs 6,500 crore crore in Tata Motors
The company has huge liabilities and with lockdowns in many parts of the world, the situation could worsen
Tata Motors on Wednesday reported a 82.69 per cent decline in total sales to 12,924 units in March.
Fitch Ratings on Thursday downgraded the
It assigned a negative outlook.
Tata Sons recently advised its companies to conserve cash
It directed the CEOs of all operating companies to go slow on capex plans, and build scenarios for three to six months, keeping in mind the
impact of the pandemic on businesses.
