News

Published: June 12, 2024
Updated: June 12, 2024

Tata Chemicals Shares to Trade Ex-Dividend on June 12

Final Dividend Announcement

The Board of Directors of Tata Chemicals has declared a final dividend of ₹15.00 per equity share for the financial year 2024. The shares will trade ex-dividend on June 12, 2024, making this a key date for investors. The record date to determine shareholder eligibility for the dividend has been set for the same day.

Stock Performance

On Tuesday, Tata Chemicals Ltd shares closed at ₹1,111.50 on the BSE, marking an increase of ₹25.15 or 2.32%. This positive movement comes ahead of the ex-dividend date, drawing attention to the stock.

Official Announcement

In a filing 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 ₹10 each, subject to approval by the shareholders of the Company at the 85th AGM.” The company also confirmed the record date and mentioned that the dividend, if approved, would be paid on or after June 28, 2024, following the deduction of tax at source.

Fourth Quarter Earnings

For the fourth quarter ending March 31, 2024, Tata Chemicals reported a net loss of ₹818 crore, a significant drop from a net profit of ₹694 crore in the same period the previous year. This loss was attributed to lower income and an exceptional item loss provision of ₹963 crore in its UK business. The company's total income for Q4 fell to ₹3,589 crore from ₹4,482 crore in the year-ago period.

Annual Financial Performance

For the full fiscal year 2024, Tata Chemicals reported an 82% decline in profit after tax from continuing operations, down to ₹449 crore. This decrease was primarily due to exceptional item losses totaling ₹861 crore and lower overall income. Consolidated profit after tax (before exceptional items and non-controlling interest) from continuing operations fell to ₹145 crore in Q4, compared to ₹694 crore in the same quarter of the previous year.

Tata Chemicals' upcoming ex-dividend date and the substantial final dividend are significant for investors, despite the company's recent financial challenges. The ongoing efforts to stabilize and improve performance will be critical as the company navigates the coming fiscal periods.