Tata Steel final dividend: Steelmaker announces 360% dividend alongwith Q4FY24 earnings, check record and payment dates
Tata Steel final dividend: Tata Steel has also announced the record date of the final dividend i.e. June 21, 2024.
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The board of Tata Steel has recommended a final dividend of Rs 3.60 per equity share, according to a stock market disclosure. This is subject to the approval of the company's shareholders.
It has scheduled its AGM on Friday, July 19, 2024, to discuss the same.
Tata Steel has also announced the record date of the final dividend i.e. June 21, 2024.
"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 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," the company said in a regulatory filing.
"The dividend, if approved by the shareholders at the AGM, will be paid, subject to deduction of applicable tax at source, on and from Friday, July 19, 2024," it stated.
Informing about the record date, Tata Steel said, "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."
Tata Steel has also announced its financial results for the fourth quarter ended on March 31, 2024, along with a dividend announcement.
Tata Steel Q4 FY24 Results
Tata group steelmaker Tata Steel on Wednesday reported a consolidated net profit of Rs 611.5 crore for the quarter ended March 31.
The alloy maker registered revenue of Rs 58,687.3 crore for the fourth and final quarter of FY24, as against Rs 62,961.5 crore for the corresponding period a year ago, according to a regulatory filing.
Read More: Tata Steel Q4 Results: Net profit falls 64%, misses Street expectations
Meanwhile, shares of Tata Steel closed trading at Rs 174.2 each, down 0.37 per cent on BSE today.
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