Tata Steel Ltd board recommends dividend of Rs. 25

The Board of Directors of Tata Steel Ltd at its meeting held on May 05, 2021, has recommended a dividend of Rs. 25/- per fully paid-up Ordinary Share of Rs. 10/- each (250%) to the shareholders of the Company for the Financial Year ended March 31, 2021. Further, in respect of the outstanding partly paid-up Ordinary Shares of the Company on which call money remains unpaid as on the date of book closure for the dividend payment, the dividend will be paid in proportion to the amount paid-up on such shares i.e. Rs. 6.25 per partly paid-up Ordinary Share of Rs. 10/- each (paid-up Rs. 2.504 per share) (250%).

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 to be held on Wednesday, June 30, 2021.

The dividend, if approved by the shareholders at the AGM, will be paid, subject to deduction of tax at source, on and from Friday, July 2, 2021, subject to there being no constraints due to the ongoing pandemic.

Shares of TATA STEEL LTD. was last trading in BSE at Rs.1068.95 as compared to the previous close of Rs. 1064.05. The total number of shares traded during the day was 923316 in over 21146 trades.

The stock hit an intraday high of Rs. 1088.85 and intraday low of 1047. The net turnover during the day was Rs. 984236109.

Source : Equity Bulls

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