Tata Sons Dividend 2024: The Tata Group holding company Tata Sons recently released its annual report for the financial year 2024, which has revealed that the company has paid a whopping dividend to shareholders. Tata Sons has doubled its dividend payout for the last fiscal, as compared to FY23.
In the last financial year, the company disclosed that it has paid a dividend of Rs 35,000, its highest ever, and double that of the preceding year. During the financial year 2023, Tata Sons had made a 1750 per cent payout, which translates to a dividend of Rs 17,500.
Tata Sons Dividend 2024
“Based on the Company’s performance, the Directors have recommended a dividend of Rs 35,000 (Previous Year: Rs 17,500) per ordinary share at the rate of 3500 per cent (Previous Year: 1750 per cent),” Tata Sons said in its annual report. The dividend, if approved by the shareholders, would involve a cash outflow of Rs 1,414.51 crore.
For FY23, the Tata Group company’s dividend outflow stood at Rs 707.26 crore on 4,04,146 ordinary shares.
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Why Tata Sons Doubled Dividend Payment in FY24?
While mentioning the amount of dividend it paid the shareholders in FY24, Tata Sons said it is based on the company’s performance during the year. It is worth mentioning here that the holding company of Tata Group recorded a 74 per cent jump in its consolidated net profit at Rs 49,000 crore in fiscal 2023-24.
The company also increased by 25 per cent on a YoY basis to Rs 43,893 crore and the profit after tax soared by 57 per cent to Rs 12,521.6 crore. The group had a debt of Rs 20,642.47 crore and net cash of Rs 2,679.19 crore at the end of March 2024.
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N Chandrasekaran Salary 2024
Tata Sons Chairman N Chandrasekaran made a whopping Rs 135 crore in FY24, which is a 20 per cent increase from the previous year. With this, he retains his position as the highest-paid executive in an Indian company. Chandrasekaran had earned Rs 113 crore in FY23.
