When the stock market opens on Wednesday, June 12, Tata Chemicals Ltd shares will be the focus.
Tata Chemicals' Board of Directors announced a final dividend of ₹15.00 per equity share for the fiscal year 2024 to eligible shareholders. The corporation had set June 12 as the record date to determine shareholders' eligibility for the last dividend.
Ex-dividend Date
Tata Chemicals Ltd shares will trade ex-dividend on Wednesday, June 12. Tata Chemicals Ltd shares closed Tuesday at ₹1,111.50, up ₹25.15 or 2.32 percent on the BSE.
In a report with the stock exchange, Tata Chemicals stated: "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."
"According to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has designated Wednesday, June 12, 2024 as the Record Date for determining Members' entitlement to dividends for the fiscal year ending March 31, 2024. The dividend, if declared by the Members at the next AGM, will be paid on or after Friday, June 28, 2024, subject to tax deduction at source," according to the filing.
Q4 earnings
Tata Chemicals Ltd recorded a net loss of ₹818 crore in the fourth quarter of fiscal year 2024, down from a profit of ₹694 crore the previous year.
The company recorded a Q4 loss of ₹963 crore due to decreased income and a provision for extraordinary events in the UK division.
In the reporting quarter, the company's consolidated profit after tax (excluding extraordinary items and non-controlling interest) from continuing operations was ₹145 crore, down from ₹694 crore in the same period last year.
In the fourth quarter of the previous fiscal year, Tata Chemicals' overall income declined to ₹3,589 crore from ₹4,482 crore the year before.
In fiscal year 2024, the company's profit after tax decreased by 82% to ₹449 crore from continuing operations. This was primarily owing to a loss of ₹861 crore from extraordinary items and decreased income.
