TAMO expects dividend to be paid soon: Chandra | India Business News – Times of India

Mumbai: Tata Motors It is expected that soon the list of dividend paying companies will be back. flagship of Tata Group It has not paid dividend to its shareholders for the last five years.
Chairman answering questions from shareholders on the scheme of dividend payment N Chandrasekaran Said that the situation has become difficult due to the accumulated losses – to the extent of Rs 1,500 crore. Until the company wipes it out, it will be difficult. It is this loss that the company has to at least recover in order to be in a position to pay dividends, he explained. “We’re working to become a dividend-paying company soon.”
The company had last declared dividend in May 2016. Apart from Tata Motors, its UK arm Jaguar Land Rover (JLR) is also working hard to pay dividend to the parent company. We are expecting the second half (of this fiscal) to be better than the first half for JLR. The Chairman said at Tata Motors’ 77th Annual General Meeting on Monday that despite external challenges such as geopolitical and inflationary concerns, demand for products across each of the company’s businesses – passenger and commercial vehicles in India and JLR UK – remains strong.
He said management is taking action to create a good cycle of growth and returns for shareholders. To a query whether the company plans to foray into electric two-wheelers and tractors, Chandrasekaran “The company is not interested in electric scooters but will offer a charging solution,” he replied. On tractor manufacturing, Chandrasekaran said, ‘We will look into it.