Steel Authority of India Limited ( Steel Authority of India ) has recommended a final dividend of ₹2.35 per equity share for FY26, subject to shareholder approval at its upcoming annual general meeting.

The company will hold its 54th Annual General Meeting on September 24, 2026, at 10:30 am through Video Conferencing or Other Audio Visual Means. The Board of Directors approved the dividend proposal during its recent meeting, aligning with the company's commitment to returning value to shareholders.

Dividend Details

If approved by members at the AGM, the final dividend will be paid to eligible shareholders as on the record date of September 30, 2026. Payments will be made electronically within 30 days of declaration, subject to deduction of Income Tax at Source (TDS). Only members whose bank account details are registered will receive the payout via electronic mode.

AGM and Voting Schedule

The company dispatched the AGM notice and the Annual Report for FY26 to shareholders electronically on September 1, 2026. These documents include the audited consolidated financial statements and reports from the Board and Auditors. The materials are also accessible on the company website and the National Securities Depository Limited portal.

Shareholders can participate in remote e-voting or cast votes during the meeting via electronic means. The cut-off date for determining voting eligibility is September 17, 2026, at the end of business hours. Only members recorded in the Register of Members or Depository Beneficial Owners as on this date are eligible to vote.

The remote e-voting period begins on September 20, 2026, at 9:00 am and concludes on September 23, 2026, at 5:00 pm. National Securities Depository Limited serves as the authorized agency for facilitating these voting processes.

Sachin Agarwal, a Company Secretary in Practice with M/s. Agarwal S. & Associates, has been appointed as the Scrutinizer. He will oversee the e-voting process to ensure fairness and transparency. The company will declare the e-voting results within two working days after the conclusion of the AGM.

Members who wish to express views or ask questions during the AGM must register as speakers by sending a request from their registered email ID between September 18, 2026, at 9:00 am and September 20, 2026, at 5:00 pm. Queries from non-speaking members will be addressed via email.

The Steel Authority of India disclosed a significant reduction in its promoter group’s largest institutional shareholder stake on September 2, 2026.

Life Insurance Corporation of India (LIC) sold 82,632,513 shares of the steel major through open market transactions between April 28, 2026, and September 1, 2026. This disposal represents a 2.001% decline in its total voting capital holding.

Shareholding Changes

The sale reduces LIC’s total stake in SAIL from 6.625% to 4.625%. The insurer held 273,665,481 shares carrying voting rights prior to the transaction. Post-sale, the remaining holding stands at 191,032,968 shares.

The transaction was executed via market sale, as per the disclosure filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. LIC is not part of the promoter or promoter group of SAIL.

What the Numbers Show

The reduction in LIC’s stake brings its holding below the 5% threshold, which is the regulatory trigger for substantial acquisition disclosures under SEBI regulations. While LIC remains a significant shareholder with a 4.625% stake, this move marks a strategic exit from the higher-disclosure bracket for this specific entity. The total equity share capital of SAIL remained unchanged at ₹41,305,252,890 during this period, indicating no new issuance or buyback activity coinciding with the sale.