LIC Backed Tata Group Stock To Turn Ex-Dividend Today

Tata Chemicals is a large cap company that recorded a market cap of Rs 25,451.43 Cr during Tuesday's closing session. The largest saltworks in Asia, third-largest manufacturer of soda ash, and sixth-largest producer of sodium bicarbonate in the world are all businesses owned by the Tata Group. The Board of Tata Chemicals has recommended a dividend of Rs 17.50 per share i.e. 175% for the financial year 2022-23 subject to the approval of the shareholders at the ensuing 84th Annual General Meeting of the company, and in order to determine the eligibility of shareholders for the purpose of the same 14th June 2023 has been fixed as the record date hence the stock is going to trade ex-dividend today due to India's T+1 settlement mechanism.

Tata Chemicals has announced an equity dividend of 175.00% at a face value of Rs 10, or Rs 17.5 per share, for the financial year ended March 2023. This generates a dividend yield of 1.75% at the current share price of Rs 999.50. The company has a solid track record of dividend declarations during the past five years. Tata Chemicals Ltd. has issued 27 dividends since June 14, 2001, according to Trendlyne statistics. Tata Chemicals Ltd. announced an equity dividend in the amount of Rs. 30 per share over the last 12 months. This pays a dividend yield of 3.00% at the current share price.

Consolidated revenue from operations for the firm in Q4FY23 was Rs 4,407 Cr, up 26.60% YoY from Rs 3,481 Cr in Q4FY22. Consolidated revenue from operations for FY23 was Rs 16,789 Cr, up from Rs 12,622 Cr in FY22. In Q4FY23, the company's consolidated net expenses were Rs 3,809 Cr, up from Rs 3,098 Cr in Q4FY22, while in FY23, they were Rs 14,265 Cr, up from Rs 11,426 Cr in FY22. Tata Chemicals' consolidated net profit for the fourth quarter of FY23 was Rs 709 Cr, up 61.87% year on year from Rs 438 Cr in the same quarter last year. For the whole fiscal year, it was Rs 2,317 Cr as opposed to Rs 1,258 Cr in FY22. During Q4FY23, Tata Chemicals' consolidated EPS improved to Rs. 27.91 from Rs. 18.17 in Q4FY22.

On Tuesday, the shares of Tata Chemicals closed on the NSE at Rs 999.50 up by 1.19% from the previous close of Rs 987.75. The stock touched a 52-week-high of Rs 1,214.90 on (11-Oct-2022) and a 52-week-low of Rs 773.35 on (01-Jul-2022). During Q4FY23, the company recorded promoters shareholding of 37.98%, FIIs stake of 14.59%, DIIs stake of 19.77%, Govt stake of 0.03% and public stake of 27.64%. As per the shareholding pattern of Tata Chemicals for January to March 2023 quarter, insurance giant Life Insurance Corporation Of India held fully paid-up equity shares of 1,05,26,071 or 4.13% stake in the company.