Tata Steel Board recommends dividend of 160%

Tata Steel Ltd has announced that the Board of Directors of the Company at its meeting held on June 26, 2008, inter alia, has recommended, subject to the approval of shareholders at the Annual General Meeting, dividend of 2% on Cumulative Convertible Preference Shares (CCPS) of Rs 100 each payable on pro-rata basis from the date of allotment of CCPS i.e. January 18, 2008 to March 31, 2008.The Board has recommeneded 160% dividend on Ordinary Shares of Rs 10 each for the year ended March 31, 2008.The Register of Members & Share Transfer Books of the Company will remain closed from July 22, 2008 to July 31, 2008 (both days inclusive) for the purpose of payment of dividends on CCPS (pro-rata) and Ordinary Shares for the year ended March 31, 2008 & Annual General Meeting (AGM) of the Company.The stock closed the day at Rs.757.10, up by Rs.14.15 or 1.90%. The stock hit an intraday high of Rs.763 and low of Rs.731.55.The total traded quantity was 1290194 compared to 2 week average of 1105320.