Tata Steel Dividend 2024: BUY Tata stock ahead of record date? Check strategy

Authored by : Abhinav Ranjan Updated Jun 13, 2024 | 04:51 PM IST Tata Steel shares will trade ex-dividend on June 21 for Rs 3.60 payout. (Pic: ET NOW)

Tata Steel Dividend 2024 Record Date, Tata Steel Share Price Target: Shares of Tata Steel are hitting back-to-back 52-week highs. On Thursday, the Tata stock continued its winning streak the seventh consecutive session. The counter opened in the green at Rs 183.40 and went on to make an intraday and a fresh high of Rs 184.10, up around 1.50 per cent.

Around 2:30 PM, Tata Steel shares traded flat with positive bias at Rs 182.50 with more than 3.05 crore equities changing hands.

Tata Steel shares are trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

Tata Steel Share Price Target

According to Mandar Bhojane, Equity Research Analyst, Choice Broking, Tata Steel has demonstrated a strong rally from lower levels, forming a pattern of higher highs and higher lows. This indicates a robust uptrend.

A strong support is placed in the range of Rs 176-172. If the price closes above Rs 184, then Tata Steel shares could rise further to Rs 192. The stop loss should be at Rs 172, he said.

Tata Steel Dividend 2024 Record Date

The board of Tata Steel in the Q4 recommended a dividend payout of 360 per cent on each stock of Re 1 face value. Accordingly, the 360 per cent dividend translates into Rs 3.60 per share.

"Recommended a dividend of Rs 3.60 per Ordinary (Equity) Share of face value Re 1 each (360%) to the shareholders of the Company for FY2023-24," Tata Steel said in an exchange filing.

Tata Steel has fixed the record date and ex-date for the next dividend. Tata Steel dividend 2024 record date is June 21.

"The Board has fixed Friday, June 21, 2024, as the Record Date for determining the Members entitled to receive the dividend for the financial year ended March 31, 2024," according to a statement.

According to BSE website, Tata Steel shares will trade ex-date for Rs 3.60 dividend on June 21.

Tata Steel Dividend 2024 Payment Date

Tata Steel has also fixed the dividend payment date for eligible shareholders. Tata Steel dividend will be paid on and from July 19.

"The dividend, will be paid, subject to deduction of applicable tax at source, on and from Friday, July 19, 2024," the company said.

Tata Steel Dividend History

Tata Steel shares have a dividend yield of nearly 2 per cent. According to BSE website, Tata Steel in June 2023 paid a dividend of Rs 3.60 on each stock. Back in 2022, the company had paid a dividend of Rs 51 on each stock just ahead of stock split. Tata Steel had split the face value of each stock in the ratio of 10:1 (ten for one).

In 2021 ad 2020, Tata Steel had rewarded its investors by paying a dividend of Rs 25 and Rs 10, respectively, on each stock.

Tata Steel Share Price History

Tata Steel is a largecap stock and a constituent of S&P BSE SENSEX. According to BSE analytics as on June 13, Tata Steel shares have delivered a positive return of 27 per cent in the last three months. In one year, the Tata stock has yielded a solid return of 64 per cent. In two years, the counter has moved northward by 83 per cent.

In the last 5 years, Tata Steel shares have made investors wealthier by more than 250 per cent.

Also Read: Share Market LIVE Updates

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)