Dividend stocks: Tata Chemicals shares to trade ex-dividend on June 12

The Board of Directors of Tata Chemicals had declared a final dividend of ₹15.00 per equity share for the financial year 2024 for the eligible shareholders. The company had fixed June 12 as the record date to ascertain the eligibility of shareholders for the final dividend.

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Ex-dividend date

Shares of Tata Chemicals Ltd will trade ex-dividend on Wednesday (June 12).

Tata Chemicals Ltd shares on Tuesday ended at ₹1,111.50, higher by ₹25.15 or 2.32 per cent on the BSE.

In a stock exchange filing, Tata Chemicals said: “The Board of Directors had, at its meeting held on Monday, April 29, 2024, recommended a dividend of ₹15 per ordinary share of Rs10 each, subject to approval by the shareholders of the Company at the 85th AGM.”

“Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Wednesday, June 12, 2024 as the Record Date for determining entitlement of Members to dividend for the financial year ended March 31, 2024. The dividend, if declared by the Members at the ensuing AGM, will be paid subject to deduction of tax at source, on or after Friday, June 28, 2024,” the filing added.

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Q4 earnings

For the fourth quarter ended March 31 of the fiscal year 2024, Tata Chemicals Ltd had reported a net loss of ₹818 crore, as compared with a net profit of ₹694 crore in the year-ago period.

The company had reported Q4 loss on lower income and provision of loss on account of exceptional items of ₹963 crore in the UK business.

Its consolidated profit after tax (before exceptional items and non-controlling interest) from continuing operations fell to ₹145 crore in the reported quarter, as compared to ₹694 crore in the corresponding period of the preceding year.

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Tata Chemicals’ total income dropped to ₹3,589 crore in the fourth quarter of the last fiscal year from ₹4,482 crore in the year-ago period.

For the full fiscal year 2024, the company posted an 82 per cent drop in profit after tax from continuing operation to ₹449 crore mainly due to the provision of loss on account of exceptional items of ₹861 crore and lower income.

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Published: 12 Jun 2024, 07:46 AM IST