ew Delhi: Tata Global Beverages, formerly known as Tata Tea, on Tuesday announced the reappointment of its group chairman Ratan Tata as one of the directors of the firm.
The company also announced at its annual general meeting held on Monday that its board members have approved issuing dividend of Rs2 per equity share on the face value of Re1 each to its shareholders.
“Mr RN Tata, Mr FK Kavarana and Mr UM Rao, directors who retired by rotation and were eligible for reappointment were reappointed,” Tata Global Beverages (TGB) said in a filing to the Bombay Stock Exchange.
Tata had told shareholders at the company’s 47th AGM that the firm, which is so far engaged in tea, non-carbonated beverages and mineral water businesses, is planning to foray into foods and health drink segments as well.
TGB, which in April this year announced a tie-up with PepsiCo, would explore the possibility of setting up a JV for global distribution of its products, as it eyes a revenue of $5 billion by 2015.
“The present revenue of the company is USD 1.5 billion. The target is to take it to USD five billion in the next five years,” Tata had told shareholders.