The board of Tata Steel Ltd will on May 3 consider a proposal on May 3, to split the stock and also recommend a dividend, the Indian steel maker said in a statement on Sunday.
It said in the meeting on May 3 without specifying the ratio of the stock split, that the meeting would consider a sub-division of the shares with a nominal value of ₹ 10 each.
The split would be subject to regulatory and statutory approvals.
On May 3, the company will also declare results for the quarter ended March 31, the company said.
Tata Steel closed at ₹ 1,319.5 a share on Wednesday. Indian equity markets were closed on Thursday and Friday.
