Tata Investment Corp.'s board of directors declared on Monday a final dividend of Rs 27 per share for the financial year ended March 31.
At a meeting, the non-banking financial company's board recommended the final dividend per ordinary share of Rs 10 each. The dividend will be paid after the annual general meeting, subject to approval of the shareholders of the company, according to an exchange filing.
The company has not revealed the record date to determine the shareholders eligible for the dividend payment.
Tata Investment's board also approved the reappointment of Rajiv Dube as an independent director for a second term of five years with effect from Oct. 15, subject to approval of shareholders.
Tata Investment reported a 38% fall in net profit at Rs 37.7 crore for the quarter ended March 31, while total income dropped 71% to Rs 16.6 crore.
Shares of Tata Investment closed 1.77% higher at Rs 6,400.5 apiece on the National Stock Exchange, compared to a 1.15% advance in the benchmark Nifty.
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