Tohfa, Tohfa, Tohfa: Tata's NBFC To Power; 9 Tata Group Stocks To Pay Massive Dividends In Coming Weeks

Remember the famous 1984 song Jaya Prada and Jeetendra, 'Tohfa Tohfa Laya Laya' which was sung by India's golden voice Asha Bhosle? Well, that's exactly what Tata Group's stocks are bringing for investors, dividend gifts. From Tata's NBFC giant to Power-pack companies, a total of 8 Tata stocks will be paying massive dividends to their investors in the coming weeks. One of them has already announced a huge Rs 28 dividend per share, which will be paid soon.

The dividend payouts will be a perfect exit to financial year FY24 to investors of Tata stocks. These Tata Group companies are Tata Power, Tata Elxsi, Tata Communications, Tata Investment Corporation, Tata Motors, Tata Consumer Products, and Tata Consultancy Services (TCS). Even the group's hidden stock Benares Hotels is on the list!

Dividends are like incentives in which listed companies reward their shareholders in the form of cash or stocks from their profitability of a respective financial year. Although, dividends are taxable in terms of TDS, however, they can claim the refund by filing income tax returns. There are two types of dividend recommendations, namely interim and final. While interim dividends are announced during the financial year, the final dividends are declared after the fiscal. The final dividends are also higher compared to the interim dividend amount.

Here are the details of Tata Group stocks and their upcoming dividend payouts:

1. Tata Power Dividend:

The group's power giant, Tata Power is scheduled to meet on May 8, 2024, to recommend dividend and Q4 earnings for FY24.

Tata Power shares currently trade at Rs 429.30 apiece, down by 0.51% on BSE with a market cap of Rs 1,37,175.93 crore. The stock's 52-week high and low is at Rs 444.10 apiece and Rs 193.05 apiece respectively.

In 2023, Tata Power paid a final dividend of Rs 2 per share or 200% for FY23.

2. Tata Elxsi Dividend:

Tata Elxsi announced that it will be considering the recommendation of dividend on April 23, if any, on the equity shares of the Company for FY24. Also, on April 23, 2024. The announcement will be alongside its Q4 results.

In 2023, Tata Elxsi paid a huge Rs 60.60 dividend per share or 606% to its investors. This dividend was final.

Currently, Tata Elxsi's share price is at Rs 7546 apiece, up by Rs 20 or 0.27% on BSE with a market cap of Rs 46,993.80 crore. The stock's 52-week high and low is at Rs 9,191.10 and Rs 6,186.00 respectively.

3. Tata Communications Dividend:

Tata Communications dividend announcement is just around the corner. The company's board will meet on April 17 to consider Q4 results and to recommend dividends, if any, for the financial year ended March 31, 2024.

In FY23, the company paid a final dividend of Rs 21 per share or 210%.

Ahead of its earnings, Tata Communications is trading at Rs 1890.55 apiece, down by 0.98% with market cap at Rs 53,880.68 crore. The stock's 52-week high and low are at Rs 2,085 and Rs 1,175 apiece respectively.

4. Tata Investment Corporation Dividend:

Tata's funding company, Tata Investment Corporation will recommend dividends alongside Q4 earnings on April 24 for the financial year 2023-24.

In 2023, Tata Investment paid a dividend of Rs 48 per share, followed by its all-time high dividend payout of Rs 55 per share in 2022.

Currently, Tata Investment shares traded at Rs 6880 apiece, down marginally with a market cap of Rs 34,809.56 crore. The stock's 52-week high and low is at Rs 9,744.40 and Rs 2,030.05 apiece.

5. Tata Motors Dividend:

Tata Motors will announce its Q4 earnings on May 10. On this day, Tata Motors is also planning to recommend dividends, if any on the Ordinary Shares and 'A' Ordinary Shares in the Company for the financial year ended March 31, 2024, for the approval of the shareholders at the forthcoming 79th Annual General Meeting of the Company.

In 2023, the company paid dividends of Rs 2 on ordinary shares and Rs 2.1 dividend on DVR shares. In the percentage terms, the dividend payout was of 100% each.

At the time of writing, Tata Motors share traded at Rs 990.90 apiece, down by 0.8% on BSE with a market cap of Rs 3,30,230.09 crore. The stock's 52-week high and low is at Rs 1,065.60 and Rs 465.75 respectively.

6. Tata Motors DVR Dividend:

Tata Motors DVR is listed on both BSE and NSE. However, Tata Motors DVR has no brokerage coverage, zero buy or sell rating, and it does not have any fundamentals such as profits or revenue. Tata Motors DVR is simply riding on the wagon of Tata Motors. So, the DVR is more prone to the sentiment that revolves around Tata Motors' share price.

Tata Motors has already announced that it will recommend dividends on May 10 for Ordinary A shares which are DVR shares. Hence, Tata Motors DVR investors will also receive dividends in the coming weeks. In 2023, Tata Motors DVR investors got Rs 2.1 share or 100% as dividends.

The stock is currently trading at Rs 657.25 apiece, down by 0.70% with market cap of Rs 33,421.35 crore. The stock's 52-week high and low is at Rs 712.90 and Rs 234.50 respectively.

7. Tata Consumer Products Dividend:

Tata's FMCG giant, Tata Consumer Products has also fixed April 23 as the date to consider Q4 results and recommend final dividend for FY24. In 2023, the company paid a whopping 845% dividend amounting to Rs 8.45 per share.

Tata Consumer's share price traded at Rs 1133.95 apiece, up by 0.33% with a market cap of Rs 1,08,013.35 crore. The stock's 52-week high and low is at Rs 1,269.60 and Rs 696.50 apiece respectively.

8. Benares Hotels Dividend:

Although, a hidden stock, Benares Hotels is the most expensive stock in terms of per equity under Tata Group's ambit. Benares is backed by Indian Hotels which is a company of Tata Group.

Benares will announce its Q4 results along with final dividend recommendation if any, for FY24 on April 19. In 2023, the company delivered a massive 200% dividend amounting to Rs 20 per share to its investors.

The stock price currently trades at Rs 8658.50 apiece, up by 0.92% on BSE with a market cap of Rs 1,125.61 crore. The stock's 52-week high and low are at Rs 10,051 and Rs 3,202.35 respectively.

9. Tata Consultancy Services (TCS) Dividend:

Tata's largest company in terms of market value, TCS has announced the final dividend for FY24.

TCS has recommended a final dividend of Rs 28 per share having a face value of Rs 1 each which shall be paid/dispatched on the fourth day from the conclusion of the 29th Annual General Meeting, subject to the approval of the shareholders of the company. Earlier, TCS paid a whopping 4,500% dividend aggregating to Rs 45 per share for FY24 in a series of interims.

Currently, TCS is trading at Rs 3879.55 apiece, down by 1.58% with market cap of Rs 14,03,745.60 crore on BSE. The stock's 52-week high and low is at Rs 4,254.45 apiece and Rs 3,070.30 apiece respectively.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.