Tata Steel dividend 2023: Steel major declares 360% dividend

Tata Steel dividend: Tata Group steel manufacturer Tata Steel announced a dividend of Rs 3.60 per equity share of face value Re 1 (360%) for the financial year ended March 31 to its shareholders. The steel major reported an 84% decline in net profit at Rs 1,566 crore for the quarter ending March 31, 2023, dragged by lower income. It reported net profit of Rs 9,835 crore in the year-ago period.

"Recommended a dividend of ₹3.60 per Ordinary (Equity) Share of ₹1/- each (360%) to the shareholders of the Company for the FY2022-23. 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 Wednesday, July 5, 2023. The dividend, if approved by the shareholders at the AGM, will be paid, subject to deduction of tax at source, on and from Monday, July 10, 2023.," the company said in its exchange filing. 

Also Read - Tata Steel Q4 results: Steel major's FY23 Q4 net profit falls 84 per cent to Rs 1,566.24 crore

Tata Steel dividend 2023 payment date

Tata Steel board has fixed July 10 as the payment date, the company announced in the exchange filing. 

Tata Steel Q4 Results

Tata Steel's total income dropped to Rs 63,131.08 crore from Rs 69,615.70 crore in January-March period of the financial year 2022-23.

During the quarter, the company's production was at 5.15 MT, up from 4.90 MT in January-March 2022, while sales rose to 5.15 MT over 5.12 MT a year ago