Tata Communications shares down as stock trades ex-dividend

For the year ending March 2023, the company has declared an equity dividend of 210 percent amounting to Rs 21 per share.

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Shares of Tata Communications fell around 2 percent on June 26 as the stock traded ex-dividend. The company has set a record date of June 26, 2023 for receiving a final dividend of Rs 21. For the year ending March 2023, the company has declared an equity dividend of 210 percent amounting to Rs 21 per share.

At  9:15 am, the stock is down 1.5 percent at Rs 1,538.45. The scrip is up 26 percent in the past one month. In the past one year, the stock is up over 70 percent.

The network services provider aims to double its data revenue to Rs 28,000 crore by FY27, growing at 19 percent a year, the company said on June 7, against its previous guidance of simply “double-digit” revenue growth.

In FY23, the segment’s revenue was Rs 14,100 crore, while total revenue from operations was Rs 17,800 crore.

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The company aims to achieve the target by strengthening leadership in India, growing wallet share through enhanced customer relevance and increasing international market share, it said during an analysts’ meet.

Tata Communications is one of the leading global digital ecosystem enablers. It provides its clientele with state-of-the-art solutions across a wide range of communication, collaboration, cloud, mobility, connected solutions, network and data centre services.

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