TIL Desk/Business/New Delhi/ Tata Sons, India’s biggest promoter in the private sector, is expected to earn a record Rs 27,797 crore via equity dividend and proceeds through share buyback from its listed group companies for the financial year 2021-22.
This amount is up 17.6 per cent from Rs 23,663 crore that it pocketed in FY21. Nearly two-thirds of these proceeds will show up in Tata Sons’ financial results for FY22, thanks to the quarterly interim dividend by its cash cow Tata Consultancy Services (TCS). The software major also completed its Rs 18,000 crore worth of share buyback programme for FY22 before the end of the financial year.
The rest of the dividend income shall accrue to Tata Sons in FY23 as other group companies declared their FY22 dividend at the end of the financial year. Listed companies usually declare their annual dividends at the end of every financial year and the proceeds show up in shareholder accounts in the following year.
