After 13 years no dividend in Tata Motors


Kolkata: Bad news for Tata Motors shareholders, as they will not get he dividend.  Losses due to sluggish domestic performance may have burnt a hole in the financials of Tata Motors forcing it to decline dividend payout for the first time since 2002 but the Mumbai-based company is set to get its annual dividend of 150 million pounds (Rs 1,500cr) from Jaguar Land Rover. The two British brands will pay dividend to their parent company before the end of current quarter, which is in-line with the payments done in previous years. Tata Motors has been receiving similar amount since 2013.
Tata Motors Ltd has decided to skip dividend for 2014-15 because of the colossal loss of over ₹4,700 crore suffered by it during the year. In a communication to the stock exchanges, TML said that its Board of Directors today decided that in view of the ‘continued weak operating environment in the standalone business and in view of the losses for the year’ no dividend was permitted to be paid to the shareholders for 2014-15 as per the Companies (Declaration and Payment of Dividend) Rules, 2014.