By Malvika Gurung
Investing.com — Domestic automaker Tata Motors ( NS: ) will be in the spotlight this week as its shares are set to go ex-dividend for the fiscal year ending March 31, 2023.
Auto stock will begin trading ex-dividend on Friday, July 28th, 2023, according to Investing.com’s ‘Dividend Calendar’.
Tata Motors’ board of directors has recommended a final dividend of Rs 2 per ordinary share of face value, translating into a 100% dividend for FY2022-23, and a dividend of Rs 2.1 per ordinary share of face value (105%) in the quarter to be released in FY23.
The corporate reward is subject to approval by the auto giant’s shareholders at the 78th Annual General Meeting (AGM) to be held on August 8, 2023 through video conferencing.
The Board of Directors of Tata Motors has approved the payment of the above final dividend to its shareholders holding shares at the close of business hours on the record date of July 29, 2023.
The final dividend, if approved at the subsequent AGM, will be paid to the eligible shareholders of the vehicle company on or after August 14, 2023 and will be subject to tax deduction at source.
The mega-cap auto maker’s register of shareholders and share transfer books will remain closed from July 29 to August 8, 2023, the Tata company said.