The Board of Tata Steel said in a document dated May 4, 2022: “Recommended a dividend of Rs 51 per fully paid ordinary share of Rs 10/- each (510%) to the shareholders of the company for the fiscal year ending March 31, 2022, “In addition, the dividend will be paid pro rata to the paid-up amount on the Company’s outstanding partially paid-up common shares on which overnight cash remains unpaid as of the book closing date for the payment of the dividend, “
Shares in Tata Steel will become ex-dividend today, with the company’s board having set June 15, 2022 as the record date for the payment of the final dividend.
If cleared, Tata Steel will pay the final dividend of Rs51 from July 2, 2022, according to Indian Stock Markets. Shareholders and the board must approve the final dividend of Rs51 at the annual general meeting (AGM) scheduled for June 28, 2022. Tata Steel shares are currently trading at Rs997 and the final dividend is Rs51. As a result, Tata Steel’s annual dividend yield is around 5.11%.
Tata Steel has become one of Europe’s leading steelmakers, with crude steel capacity of around 12.4 MnTPA. After acquiring Corus in 2007, it created a footprint on the European continent. Tata Steel’s operations in South East Asia, which have a capacity of 2.2 million tonnes per year, began in 2004 with the acquisition of NatSteel, Singapore.
At the time of writing, the market valuation of the company is Rs125,063 crore. Tata Steel’s net profit for the fourth quarter ended 31 March 2022 increased by 47% YoY to Rs 9,756.20 crore. Operating revenue increased by 38.6% YoY to Rs 69 323.5 crore in the fourth quarter of FY21 compared to 50,028.37 crore in the previous quarter.
