JSW Steel Limited has informed the exchanges that its board recommended a dividend of Rs 7.10 per equity share for the financial year ended March 31, 2026. The dividend represents 710 percent on the face value of Re 1 per share.
The dividend is subject to shareholder approval at the annual general meeting. Eligible shareholders as of the record date of July 7, 2026 will receive payment within 30 days of declaration.
JSW Steel will deduct tax at source on the payout as per the Income Tax Act, 2025. Resident individual shareholders receiving aggregate dividend up to Rs 10,000 from JSW Steel during tax year 2026-27 will not attract TDS. Other resident shareholders will face TDS at 10 percent with a valid PAN, and 20 percent if PAN is not linked to Aadhaar.
Non-resident shareholders will have TDS deducted at 20 percent plus surcharge and cess unless they opt for beneficial rates under applicable double taxation avoidance agreements. Shareholders seeking lower or nil withholding must submit tax residency certificates, Form 41 filings, and self-declarations to the registrar by July 13, 2026.
Shareholders must update their residential status, PAN, Aadhaar, bank account details, and category information with their depository participant or the registrar on or before the record date. JSW Steel said it will rely on the details available in the register of members as of the record date for determining the applicable TDS rate.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.