TCS dividend 2026 record date, dividend history, Q2 results preview, what to watch

Tata group's flagship Tata Consultancy Services Ltd (TCS), whose shares are down 35.25 per cent in 2026 so far, will consider a proposal to declare second interim dividend for FY27 on Thursday, October 8, along with its September quarter results.

TCS dividend record date
TCS has fixed Wednesday, October 14, as the record date if the second interim dividend is declared. The dividend will be paid to the equity shareholders whose names appear in the register of members of the IT firm or in the records of the depositories as beneficial owners of the shares as on that day.

TCS Q2 dividend history 
History suggests TCS has declared incrementally higher dividends post Q2 results. In the second quarter last year, TCS declared an interim dividend of Rs 11 per share for FY26. It announced a dividend of Rs 10 per share in October 2024, Rs 9 per share in October 2023, Rs 8 per share in October 2022
and Rs 7 per share in October 2021.

TCS dividend in FY27 so far 
The IT major declared an interim dividend of Rs 12 per share for the ongoing financial year post June quarter results.

TCS dividend history financial year-wise 

It declared Rs 110 per share in dividends for FY26, with a dividend yield of 4.66 per cent, amounting to 28,583 crore. This included Rs 11 per share dividend each in the first three quarters, a special dividend of Rs 46 per share in the December quarter (Q3) and a final dividend of Rs 31 per share.

The IT major announced Rs 34,734 crore worth dividends in FY25, translating to Rs 126 per share dividend, as per corporate database AceEquity. The dividend yield stood at 3.5 per cent.

The IT giant declared Rs 16,290 crore dividend in FY24 , Rs 33,306 crore dividends in FY23 and Rs 7,686 crore dividends in FY22.

TCS Q2 results preview 

Kotak Institutional Equities forecast a modest sequential 0.5 per cent revenue growth, driven by the international business. It did not factor in any revenue contribution from the new BSNL contract.

"We forecast a 100 bps yoy margin decline YoY and stable QoQ margins. The YoY decline reflects wage revisions, the impact of acquisitions, and ongoing pricing pressure. EBIT margins typically expand in the quarter following annual wage hikes, supporting sequential stability. We expect TCV of $10-11 billion, growth of 5 per cent YoY, thanks to the Porsche mega-deal," Kotak said.

Anand Rathi expects TCS' Q2 to be better than Q1 basis uptick in Ju and /Aug months, but September is likely affected by rate hikes & Middle East weakness, particularly in Manufacturing and Retail.

What to watch

Jefferies said leadership transition, an update on the second phase of BSNL and large deal wins will be key focus areas, in addition to commentary on its AI strategy.

Choice Institutional said Accenture’s commentary points to improving demand signals, particularly around AI-led transformation, but the pace of conversion into reported revenues remains the key monitor.

"We, therefore, forecast FY27 to remain another subdued growth year for Indian IT, with AI-led productivity pass-throughs, pricing pressure and continued softness in discretionary spending projected to constrain reported growth. Within Tier-1, we prefer TCS, TECHM and, among mid-caps, we have COFORGE and MPHASIS as our preferred investment ideas," it said.

Kotak expects investor focus on TCS's ability to defend margins amid pricing pressure and incremental investment requirements, the extent of productivity concessions being demanded in contract renewals and the proportion of the portfolio that has been repriced for AI.

The profitability of recently signed mega-deals, the impact of GCC ramp-ups both as a competitive threat and a growth opportunity, progress on planned data center investments and the revenue contribution from the BSNL contract will also be watched keenly.