Tata Motors DVR dips 5% on turning ex-dividend
Tata Motors (DVR) has dipped over 5% or Rs 32 to Rs 558 after as stock turned ex-dividend today.
The board of directors of the company, at its meeting held on May 26, had recommended a dividend of Rs 20.50 per ‘A' Ordinary share (205%) for FY10-11. The dividend shall be paid / dispatched on and after August 16, 2011.
“The register of members & share transfer books of the company will remain closed from July 21 to August 12 (both days inclusive) for the purpose of payment of dividend and Annual General Meeting (AGM) of the company to be held on August 12, 2011,” a Tata group company said in a filing to the stock exchanges.
The stock opened at Rs 569 and hit a low of Rs 556 on the NSE. A combined 301,468 shares have changed hands on the counter till 1220 hours.