TCS to consider proposal of share buyback on January 12

IT services major Tata Consultancy Services (TCS) on Friday announced that its board may consider a proposal for buyback of shares on January 12, 2022. 

"Pursuant to Regulation 29(1 )(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors will consider a proposal for buyback of equity shares of the Company, at its meeting to be held on January 12, 2022," TCS said in a regulatory filing. 

No other details of the buyback proposal were disclosed. The Board is scheduled to meet on January 12 to approve and take on record the financial results of the company for the third quarter and nine months ending December 31, 2021.

Along with that, the TCS board will also consider declaration of third interim dividend to the equity shareholders, the company said in a regulatory filing.

The third interim dividend, if declared, shall be paid on January 20, 2022 which is the Record Date fixed for the purpose, it further said.

Shares of TCS on Friday ended 1.26% higher at Rs 3,854.85 apiece on BSE.