TATA STEEL LTD. Recommends Dividend of Rs 3.60 per Share, Plans USD 2.11 Billion Investment

TATA STEEL LTD. has recommended a dividend of Rs 3.60 per equity share for the financial year 2023-24, subject to approval at the upcoming Annual General Meeting. The company also announced plans to infuse funds up to USD 2.11 Billion (~INR 17,407.50 crore) in its wholly owned foreign subsidiary, T Steel Holdings Pte. Ltd, in one or more tranches during FY 2024-25. The company also approved the proposal to convert debt instruments aggregating to USD 565 Million (~INR 24,661.25 crore) held by the Company in TSHP into equity shares. The Board has fixed Friday, June 21, 2024, as the Record Date for determining the Members entitled to receive the dividend.