BackTata Motors Q4: Auto major announces dividend of ₹2 per share: check details
“The dividend, if declared at the AGM, shall be paid to the eligible shareholders from August 14, 2023 onwards,” said Tata Motors
PremiumAuto major Tata Motors announced its Q4FY23 results on May 12 and announced a announced a final dividend of ₹2 per ordinary share and ₹2.10 per ‘A’ ordinary share of face value of ₹2 each to its shareholders for the financial year ended March 31, 2023 - which is the first by the Tata Group auto firm since fiscal 2015-16.
“We would like to inform that the Board of Directors at its Meeting held today has recommended declaration of final dividend of ₹2 per Ordinary Share of ₹2 each (@100 per cent) and ₹2.10 per ‘A’ Ordinary Share of ₹2 each (@105 per cent) for the financial year ended March 31, 2023," said Tata Motors in a regulatory filing to the stock exchanges.
“The dividend, if declared at the AGM, shall be paid to the eligible shareholders from August 14, 2023 onwards," it added.
In the January-March quarter, Tata Motors surpassed estimates in consolidated net profit to ₹5,407.79 crore, compared to a net loss of ₹1,032.84 crore in the corresponding quarter a year ago. Sequentially, the Q4FY23 PAT saw a growth of nearly 83 per cent. The company's top-line front is also strong with an upside of over 35 per cent YoY in revenue.
“Passenger vehicle sales grew steeply in FY23 to set a new record for the Indian auto industry. Tata Motors recorded its third successive year of industry beating growth to register its highest ever-annual domestic sales and achieving a robust 46 per cent sales growth over FY22.
Tata Motors crossed the significant landmark of 50,000 annual sales in EV’s, its highest ever, to post a growth of 154 per cent over FY22,'' said Shailesh Chandra, Managing Director Tata Motors Passenger Vehicles Ltd & Tata Passenger Electric Mobility Limited.
On March 12, shares of Tata Motors settled 0.78 per cent higher at ₹515.65 apiece on the BSE.
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