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The shareholders of Tata Sons have given green light to a proposal for 1,000 per cent dividend based on the higher profit reported in financial year 2018-19. Last year, the dividend paid was 800 per cent. In the annual general meeting of shareholders held in Mumbai on Friday, they also cleared commission on profit to the company’s directors.
The higher dividend will help Tata Trusts, which owns 67 per cent stake in Tata Sons, to invest in its charitable activities. The total dividend outgo will be Rs 404 crore. Tata Sons reported a 30 per cent rise in net profit at
