Tata Steel Ltd's board of directors will consider a share split proposal on May 3 and also recommend a dividend, the Indian steelmaker said in a statement on Sunday.
Without specifying the share split ratio, it was said that the May 3rd meeting would consider a share split with a par value of INR 10 each.
The separation will be subject to regulatory and legislative approval.
On May 3, the company will also announce results for the quarter ended March 31.
Tata Steel closed at Rs 1,319.5 per share on Wednesday. Indian stock markets were closed on Thursday and Friday.
Tata Steel to Consider Share Split Offer May 3
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