Tata Steel Dividend: Tata Steel’s shares will go ex-dividend on Wednesday, as the company’s board of directors has set June 15, 2022, as the record date for the last dividend payment. “Recommended a dividend of Rs. 51 per fully paid-up Ordinary Share of Rs 10/- each (510 percent) to the shareholders of the Company for the Financial Year ended March 31, 2022,” Tata Steel’s board of directors stated in a document dated May 4, 2022.
Furthermore, the dividend will be paid in proportion to the amount paid-up on outstanding partly paid-up Ordinary Shares of the Company on which call money remains unpaid as of the date of book closure for the dividend payment, i.e., Rs 12.75 per partly paid-up Ordinary Share of Rs 10/- each (paid-up Rs 2.504 per share) (510%).”
Tata Steel has told the Indian stock markets that it intends to pay a final dividend of Rs 51 beginning on July 2, 2022, assuming the dividend is authorised. At the Annual General Meeting (AGM) that is planned to take place on June 28, 2022, shareholders and the board of directors will vote on whether or not to approve the final dividend in the amount of Rs 51. The share price of Tata Steel is now at 997, and the company has disclosed a final dividend of 51. As a result, the dividend yield for Tata Steel on an annual basis is around 5.11 percent [(51/997) x 100].
The business has an outstanding dividend track record, and it has consistently and reliably distributed dividends over the course of the previous five years. If we take into account the current share price of Rs 1023.70 per unit, we can determine that the dividend yield is 4.99%.
With a capacity to manufacture crude steel of more than 12.4 million tonnes per year, Tata Steel has established itself as one of the leading steel makers in Europe. After completing the acquisition of Corus in 2007, it began to create a footprint on the European continent. In the meanwhile, Tata Steel’s activities in South-East Asia started in 2004 with the purchase of NatSteel, located in Singapore. These operations have a capacity of 2.2 MnTPA.
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At the time that this report was being written, the market capitalization was at 125 063 crore. Earlier, Tata Steel said that its net profit for the fourth quarter ended March 31, 2022 would be Rs 9756.20 crore, representing a year-over-year increase of 47 percent. The revenue generated from the activities increased by 38.6 percent year over year to a total of Rs 69,323.5 crore for the fourth quarter that ended on March 31, up from Rs 50,028.37 crore in the fourth quarter of FY21.
Should you Invest in Tata Steel right now?
Shares of Tata Steel plummeted to a new 52-week low in a turbulent market on Tuesday. Tata Steel shares fell to a low of Rs 987.65 on BSE, which is a decrease of 0.5 percent compared to its previous closing price of Rs 992.70. The fact that the stock of Tata Group has reached a new low may make it seem like a good time to purchase, but market experts have urged investors to exercise caution because of the unpredictable circumstances in the market.
There is a gap between the current price of Tata Steel shares and their 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. After some time had passed, the stock began trading with a positive value. The big cap shares gained up to 2.12 per cent intraday to Rs 1,013.75 on BSE. After three trading sessions, the stock has moved up.
The founder and director of Proficient Equities Private Ltd, Manoj Dalmia, made the following statement: “Tata Steel is trading at Rs 997. As a result of factors such as the export levy on steel, rising global inflation, and rising interest rates, the stock price may drop to even lower levels. Because the steel sector is heavily leveraged, the debts may become more expensive, resulting in greater interest expenses. We predict the stock to approach Rs 885 and Rs 837 levels on the downside which would be a nice location to accumulate. Investors should avoid significant purchasing as of now owing to adverse emotions in markets.”
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