With Tata Motors skipping a dividend payout for the first time in 15 years, Chairman Cyrus Mistry today said he is pained for not being able to give the "rightful dividend" to the investors, who questioned the reasons given by the company at its AGM here today. Mistry said, "My personal belief is that it's a bad day for the company. I feel extremely unfortunate this day. "Let me tell you it does not give me any pleasure to deny your rightful dividend. I know that many of you depend a lot on the dividend." "But I request you to look the finances of the company and also look for the long term. We have to make some sacrifices for the long-term good of our company. I am deeply pained by our decision to not pay the dividend for FY15," an emotional Mistry said. Tata Motors had last skipped a dividend payout in fiscal year 2000-01, when Ratan Tata was the chairman. This is also only the second instance in the company's history when it has not paid a dividend. (PTI)
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