TCS announces 300% dividend

MUMBAI: Tata Consultancy Services Ltd on Thursday announced an interim dividend of 300%, the first dividend payout by the Tata group company after its listing on the National Stock Exchange and the Bombay Stock Exchange two months ago following the initial public offering.
The board has declared an interim dividend of Rs 3 per equity share of Re 1 each and the record date for the purpose of payment has been fixed as October 29, 2004, the it services company said in a release here.
The interim dividend will be disbursed to eligible shareholders on or before November 10, 2004, the release added.
TCS CEO and managing director S Ramadorai said, "The board decided to pay an interim dividend in keeping with the tata tradition of rewarding shareholders."