Team News Riveting
Mumbai, May 29
The board of Directors of Tata Steel Limited on Wednesday met to consider the financial results and dividend for the financial year ended March 31, 2024.
“Recommended a dividend of Rs 3.60 per Ordinary (Equity) Share of face value Rs 1/- each (360 per cent) to the shareholders of the Company for FY2023-24,” the company said in a regulatory filing.
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 Monday, July 15, 2024. The dividend, if approved by the shareholders at the AGM, will be paid, subject to deduction of applicable tax at source, on and from Friday, July 19, 2024.
Record Date Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has fixed Friday, June 21, 2024, as the Record Date for determining the Members entitled to receive the dividend for the financial year ended March 31, 2024.
The board reviewed the financing plan of the Company and based on the review, approved issue of additional debt securities, in one or more tranches, up to Rs 3,000 crore in the form of NCDs on private placement basis (Issue).
Further, the Board of Directors has authorized a Committee of Directors to determine and approve the quantum, timing and terms and conditions of the issue of the NCDs.
