Business Companies 24 Feb 2017 Tata Consultancy Ser ...

Tata Consultancy Services to finalise buyback policy

PTI
Published Feb 24, 2017, 12:42 am IST
Updated Feb 24, 2017, 12:49 am IST
Marketmen have been pushing for bringing in a more structured capital allocation strategy for TCS.
India’s largest software services firm TCS will articulate in more “explicit” terms its capital allocation policy in the next few months for its shareholders.
 India’s largest software services firm TCS will articulate in more “explicit” terms its capital allocation policy in the next few months for its shareholders.

New Delhi: India’s largest software services firm TCS will articulate in more “explicit” terms its capital allocation policy in the next few months for its shareholders. Marketmen have been pushing for bringing in a more structured capital allocation strategy for TCS, a crown jewel in the $103-billion Tata Group. “There has been a lot of talk about this. We will be articulating our policy (on capital allocation) in more explicit terms...,” TCS’ newly appointed CEO Rajesh Gopinathan said.

“We will articulate that in next few months partially, we should articulate some more formal policy in the next quarter or so,” he said. The firm has maintained a “consistent track record of very systematic and generous distribution” of capital in the past, he added. Tata Sons chairman N. Chandrasekaran had last week said TCS had received suggestions from investors over the need for certainty on dividend policy along with share buyback to distribute large amount of cash to its shareholders.

 

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