Tata Motors declares dividend of Rs 6 per share

economictimes.indiatimes.com:

Tata Motors on Friday announced a dividend of Rs 6 per share while announcing its Q4 results, which would be paid to the eligible shareholders on or before June 28.

“We would like to inform that the Board of Directors at its Meeting held today has recommended declaration of final dividend of Rs 6.00 per Ordinary Share of Rs 2 each (@ 300%) (Rs 3 normal dividend and Rs 3 special dividend) and Rs 6.20 per ‘A’ Ordinary Share of Rs 2 each (@ 310%) (Rs 3.10 normal dividend and Rs 3.10 special dividend) for the financial year ended March 31, 2024. The dividend, if declared at the AGM, shall be paid to the eligible shareholders on or before June 28, 2024,” states the filing to the exchanges.

The auto major reported a consolidated net profit of Rs 17,529 crore for the quarter ended March 31, 2024, which was a 46% jump in net profit at Rs 12,033 crore reported by the company in the year-ago period.
““It is pleasing to report the FY24 results during which Tata Motors Group delivered its highest-ever revenues, profits, and free cash flows. The India business is now debt-free, and we are on track to become net automotive debt-free on a consolidated basis in FY25. The businesses are executing well on their distinct strategies and therefore, we are confident of sustaining this strong performance in the coming years,” said PB Balaji, Group Chief Financial Officer of Tata Motors.

The shares of Tata Motors closed 1.6% higher at Rs 1,046.85 on BSE ahead of its Q4 results.

Also read: Tata Motors Q4 Results: Cons PAT jumps 46% YoY