The board of directors of Tata Motors’ has cleared the payment of the final dividend to shareholders holding its shares as of the close of the business hours on the record date of July 29, 2023. 
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The board of directors of Tata Motors’ has cleared the payment of the final dividend to shareholders holding its shares as of the close of the business hours on the record date of July 29, 2023. Shares of domestic auto major Tata Motors Ltd will be tracked this week as the large cap shares are set to turn ex-dividend on July 28, Friday for the financial year ended March 31, 2023. The board of directors of Tata Motors recommended a final dividend of Rs 2 per ordinary share of face value Rs 2 each, amounting to a 100% dividend for the financial year 2022-23, along with a dividend of Rs 2.1 per ‘A’ Ordinary Share of face value Rs 2 each (105%) for FY23, during earnings show for the quarter ended March.
The corporate reward is subject to the nod of the shareholders at its 78th Annual General Meeting (AGM) to be held on August 8, 2023, through video conferencing.
The final dividend, subject to the approval of shareholders at the ensuing AGM, will be paid to the eligible shareholders of the Tata Group firm on or from August 14, 2023, onwards and will be made subject to deduction of tax at source.
The board of directors of Tata Motors has cleared the payment of the final dividend to shareholders holding its shares as of the close of the business hours on the record date of July 29, 2023.
The register of shareholders and the share transfer books of the mega-cap auto manufacturer will be closed from July 29 to August 8, 2023, both days included, stated the Tata Group company.
In the fourth quarter of last fiscal, Tata Motors reported a second consecutive quarterly profit, led by price hikes and strong demand for cars in its luxury Jaguar Land Rover (JLR) stable as well as for commercial trucks.
The company posted a consolidated net profit of Rs 5,408 crore in Q4 compared with a loss of Rs 1,033 crore in the year-ago period.
It also declared its first dividend in nearly seven years of Rs 2 per share. Its UK arm Jaguar Land Rover (JLR) reported revenues of 7.1 billion pounds, up 49% year on year, in the fourth quarter ended March 31, 2023.
Full year revenue for FY23 stood at 22.8 billion pounds, up 25% compared with FY22, as chip supply improved further.
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