3 Tata Group Stocks To Turn Ex-Dividend This Week

Dividend stocks, which can provide stability in volatile stock and bond markets by providing a consistent stream of income and the potential for capital gains, maybe a good investment right now. Dividend stocks do not have greater growth potential than growth stocks, but they do have the potential for value appreciation. Investing in dividend stocks allows investors to reap the benefits of both capital appreciation and consistent monthly income. Here are the 3 Tata Group Stocks that are turning ex-dividend this week.

Tata Elxsi

Tata Elxsi is one of the world's leading providers of design and technology services across industries including Automotive, Communications, Media, and Healthcare. The company provides integrated services from research and strategy to electronics and mechanical design, software development, validation and deployment, and is supported by a network of design studios, global development centres and offices worldwide.

For the fiscal year 2021-22, which ended on March 31, 2022, the company reported revenue from operations of Rs. 2470.8 crore, up 35.3% year on year. During the year, the company made a net profit of Rs. 549.7 crore, up 49.3% year on year.

The company, on 20 March 2022, for the financial year ending March 31 2022 declared a final dividend of 425%, Rs. 42.50 per equity share of par value of Rs. 10 each. The ex-dividend date of the dividend is on this week on 15 June 2022. The current market price of the stock is Rs 8,655/share.

Tata Steel

Tata Steel Ltd is Asia's first integrated private steel company and one of the top global steel majors with an annual crude steel capacity of 34 million tonnes per annum. The company has a presence across the entire value chain of steel manufacturing from mining and processing iron ore and coal to producing and distributing finished products.

The company reported a consolidated net profit of Rs 9,835 crore for the fourth quarter ended March 31, 2022, up 37.32% from the previous fiscal's profit of Rs 7,162 crore.
The company declared a final dividend of 510% i.e Rs 51 per fully paid equity share on 04 May 2022. The ex-dividend date of the announced dividend is 15 June 2022. The current market price of Tata Steel is Rs 957.90/share.

Tata Power

Tata Power Company Ltd is another Tata Group company, the company primarily involved in the business of the generation, transmission and distribution of electricity. It aims to produce electricity completely through renewable sources. Tata Power, together with its subsidiaries & joint entities, has a generation capacity of 13,515 MW of which 34% comes from clean energy sources. The company has the distinction of being among the top private players in each sector of the value chain including solar rooftop and value-added services. The company reported a consolidated net profit of Rs 503 crore for the ending March 2021, up 18.15%, compared with the December 2021 quarter net profit of 425.81 crores.

Tata Power has declared 24 dividends since July 9, 2001. The company has declared a final equity dividend of 175% i.e Rs 1.55 per share in past 12 months. The announcement date dividend is 06 June 2022, while the ex-date this week on 15 June 2022. The current market price of Tata Power is Rs 222.40/share.

Disclaimer

The stocks listed above are just for the fact that they are soon to issue bonus shares and the same get credited 15 days from the record date but this also depends on RTA. Goodreturns.in advises users to check with certified experts before taking any investment decision.