Tata Steel Announces ₹3.60 Per Share Dividend: Key Dates and Details

On Wednesday, Tata Steel announced a final dividend of ₹3.60 per share for its shareholders. This recommendation comes along with their fourth-quarter financial results.

Dividend Details:

  • Amount: ₹3.60 per share (360% of the face value of ₹1 each).
  • Approval: The dividend needs to be approved by shareholders at the Annual General Meeting (AGM) on Monday, July 15, 2024.
  • Payment Date: If approved, the dividend will be paid from Friday, July 19, 2024, after deducting applicable taxes.

Record Date:

  • Date: Friday, June 21, 2024, has been set as the record date. This is the date on which shareholders must be on record to be eligible for the dividend.

Tata Steel Q4 Results

Tata Steel reported a significant drop in net profit for the quarter ending March 2024:

  • Net Profit: ₹611 crore, down 64% from ₹1,705 crore in the same quarter the previous year.
  • Revenue: Decreased by 7% year-on-year to ₹58,687 crore.

Investment and Financial Performance

The company’s board has approved a significant investment:

  • Investment Amount: Up to $2.11 billion (₹17,407.50 crore) into its foreign subsidiary, T Steel Holdings Pte Ltd, over FY25.

Financial Highlights for FY2024:

  • Consolidated Revenues: Around $27.7 billion.
  • Consolidated EBITDA: ₹23,402 crore (EBITDA margin of around 10%).
  • India EBITDA: Increased by 10% year-on-year to ₹31,057 crore, with a margin improvement of around 200 basis points to 22%.
  • Profit After Tax: ₹17,514 crore (excluding exceptional items).
  • Quarterly Performance:
    • Revenues: ₹58,687 crore.
    • EBITDA: ₹6,631 crore, slightly higher than the previous quarter.
    • Cash Flow from Operations: Around ₹7,400 crore for the quarter and ₹20,300 crore for the full year.
    • Capital Expenditure: ₹4,850 crore for the quarter and ₹18,207 crore for the full year (up 29% year-on-year).
  • Group Liquidity: Remains strong at ₹31,767 crore.

Koushik Chatterjee, Executive Director and Chief Financial Officer, noted the company’s strong financial performance and emphasized the recommended dividend of ₹3.60 per share.

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