Tata Investment Corporation to consider dividend, scrip trading at a dividend yield of 2.55%

“A meeting of the Board of Directors of the Company will be held on Friday, 5th May, 2023, inter alia, to consider and approve: i. The Audited Standalone and Consolidated financial results of the Company for the financial year ended 31st March, 2023; ii. Recommendation of dividend, if any, on the equity shares of the Company for the financial year ended 31st March, 2023,” said the Board of Directors of Tata Investment Corporation in a stock exchange filing.

Tata Investment Corp also informed stock exchanges that “In accordance with the ‘Tata Code of Conduct for Prevention of Insider Trading’ pursuant to the amended SEBI (Prohibition of Insider Trading) Regulations, 2015, the Company has intimated its Designated Persons regarding the closure of the trading window from Saturday, 25th March, 2023 to Sunday, 7th May, 2023 (both days inclusive).”

Tata Investment Corporation has announced an equity dividend of 550.00% at a face value of ₹10 or ₹55 per share for the fiscal year that ended in March 2022, or FY22. This generates a dividend yield of 2.55% at the current share price of ₹2,160. The company has a solid track record of dividend declarations during the past five years. According to statistics from Trendlyne, Tata Investment Corporation Ltd. has issued 27 dividends since September 4, 2000. 

In comparison to a consolidated profit after tax (PAT) of ₹39.73 crore in the same quarter of FY22, Tata Investment Corporation Ltd. recorded a 12.55 percent fall in its third quarter of FY23 PAT at ₹34.74 crore. Comparing Q3FY23 to Q3FY22, the consolidated total income for the quarter under review was ₹37.69 crore as opposed to ₹50.97 crore. In comparison to ₹6.01 crore during the same period in FY22, the total expenses for the third quarter of FY23 were ₹9.45 crore. The company is yet to declare its Q4FY23 earnings.

The shares of Tata Investment Corporation closed on Friday on the NSE at ₹2,160 apiece level, up by 4.61% from the previous close of ₹2,064.85. In the last 1 year the stock has gained 45.61% and on a YTD basis it has gained 2.01% so far in 2023. The stock touched a 52-week-high of ₹2,883.40 on (15-Sep-2022) and a 52-week-low of ₹1,215.95 on (20-Jun-2022). During the quarter ended March 2023 or Q4FY23, the company recorded a promoter shareholding of 73.38%, FIIs stake of 1.02%, DIIs stake of 0.43%, Govt stake of 0.49% and a public stake of 24.66%.