Tata Consumer Products (TATACONSUM) has announced a dividend of Rs 8.45 per share, which translates to a significant payout of 845% based on the face value of Re 1 per share.
This dividend, marking the conclusion of the fiscal year ending March 2023, comes as welcome news to the company’s shareholders.
Following the conclusion of its meeting, the board of Tata Consumer Products, known for its popular brands such as Tata Salt, Tetley, Tata Coffee, Tata Starbucks, and Tata Sampann, has approved the dividend.
Tata Consumer Products dividend: When will the payout be made?
As per a company statement, the dividend, which is subject to approval by shareholders at the upcoming annual general meeting (AGM), will be paid or dispatched within 30 days of its declaration, in accordance with the company’s policies, after the AGM.
Tata Consumer Products dividend: Record date
The Tata group company has not yet announced a record date, which is the date that determines the shareholders who are eligible to benefit from corporate actions such as dividends, for its latest dividend declaration.
Tata Consumer Products AGM date
Tata Consumer Products has scheduled its 60th annual general meeting (AGM) to be held on Tuesday, June 6.
The company has announced that the AGM will be conducted via video conferencing (VC) or other audio-visual means (OAVM), as per their statement.
Tata Consumer Products Q4 results
Furthermore, the board has also granted approval for the company’s financial results pertaining to the quarter and year ended March 2023.
Tata Consumer Products has announced a year-on-year increase of 23.5% in net profit, amounting to Rs 268.6 crore, for the quarter ending March 2023.
The company’s revenue also witnessed a growth of 14%, reaching Rs 3,618.7 crore.
Notably, Tata Consumer Products surpassed analysts’ expectations in terms of both top-line and bottom-line performance.
As per research conducted by Zee Business, Tata Consumer Products’ consolidated net profit for the quarter was estimated at Rs 254 crore, with revenue pegged at Rs 3,510 crore.
Prior to the announcements, Tata Consumer Products’ shares closed marginally higher by 0.3% at Rs 734.3 per share on the Bombay Stock Exchange (BSE).
