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Stock Report
TCS declares Rs.4.5 per share dividend
Posted On : 2006-08-31 08:27:12( TIMEZONE : IST )
Tata Consultancy Services (TCS) Ltd has announced that the members at the 11th Annual General Meeting (AGM) of the Company held on June 29, 2006, inter alia, have accorded to the following:
1. Adoption of the Directors’ Report, Auditors’ Report and the Audited Profit and Loss Account for the year ended March 31, 2006 and the Balance Sheet as at that date.
2. Confirmation of the three interim dividends of Rs 3.00 each per share on Equity Shares of Rs 10/- each in respect of the Financial Year 2005-06.
3. Declaration of Dividend of Rs 4.50 per share on Equity Shares of Re 1/- each in respect of the Financial Year ended March 31, 2006.
4. Re-appointment of Mr R N Tata as Director of the Company.
5. Re-appointment of Messrs S B Billimoria & Company, as Auditors of the Company to hold office from the conclusion of this meeting upto the conclusion of the next Annual General Meeting of the Company and to examine and audit the accounts of the Company for the financial year 2006-07 on remuneration, terms and conditions.
6. Appointment of Mr V Thyagarajan and Prof Clayton M Christensen as Directors of the Company.
7. Revision in the remuneration payable to Mr S Ramadorai, Managing Director, with effect from April 1, 2005 for the remainder of the tenure of his contract.
8. Increase in the Authorised Share Capital of the Company from Rs 60,00,00,000 divided into 60,00,00,000 Equity Shares of Re 1/- each to Rs 120,00,00,000 divided into 120,00,00,000 Equity Shares of Re 1/- each by the creation of 60,00,00,000 Equity Shares of Re 1/- each and consequential alteration in the Memorandum & Articles of Association of the Company.
9. Authority to Board to appoint as Branch Auditors branch office of the Company, whether existing or which may be opened / acquired hereafter, in India or abroad, in consultation with the Company’s Auditor´s any person(s) qualified to act as Branch Auditors within the provisions of Section 228 of the Companies Act, 1956, on remuneration, terms and conditions.
