Tata Steel announces dividend of ₹3.60 per share; check record date and other details
₹3.60 per share of face value ₹1 each along with fourth quarter financial results.“Recommended a dividend of ₹3.60 per Ordinary (Equity) Share of face value ₹1/- each (360%) to the shareholders of the Company for FY2023-24," the company said in an exchange filing.Also read: Tata Steel Q4 Results: Net profit drops 64.5% to ₹554 crore, dividend declaredThe dividend announced is subject to shareholders approval. “The dividend recommended by the Board of Directors of the Company is subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company scheduled to be held on Monday, July 15, 2024," it added.If approved by the shareholders at the AGM, the dividend will be paid subject to deduction of applicable tax at source, on and from Friday, July 19, 2024.The company has set July 21, 2024 as the record date of the final dividend.
“Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has fixed Friday, June 21, 2024, as the Record Date for determining the Members entitled to receive the dividend for the financial year ended March 31, 2024," it said.Tata Steel, on Wednesday, announced a 64 per cent decline in its consolidated net profit for the quarter ending March 2024, amounting to ₹611 crore, down from ₹1,705 crore in the same quarter the previous year. This profit figure was below D-Street's estimate of ₹991 crore.Additionally, the revenue from operations for the reporting quarter decreased by 7 per cent year-on-year to ₹58,687 crore.Also read: Gold Price Outlook: Motilal Oswal recommends ‘buy on dips’ on yellow metal; pegs upside target to ₹81,000The company's board has approved a proposal to inject up to $2.11 billion (
. Read more on livemint.com
