Subsequent to the meeting of the board of directors on Tuesday, May 13, 2003, Tata Chemicals Limited has announced an interim dividend of 55 per cent for FY 2003. This amounts to a total dividend payout of Rs 112 crore, which is 57 per cent of the company's FY 2003 profit after tax of Rs 197 crore.

Commenting on the announcement, Prasad Menon, Managing Director, Tata Chemicals, said, "This is in continuance with Tata Chemicals' objective to return profits to its shareholders and reward them consistently. The increase in dividend pay out represents our strong financial position and positive business outlook."