Bajaj Auto, while announcing its earnings for the fourth quarter ended March 31, 2022, said its board had also recommended dividend 140 per share 10 each (1,400 per cent) subject to the approval of the shareholders.
Auto Stock is going to turn ex-dividend on Thursday, a day before its record date set for July 1, 2022, to finalize eligible shareholders. Dividend payment.
“The Board of Directors has approved/recommended dividend at the rate of Rs. 140 per share (1400%) of the face value of Rs. 10 each on equity shares for the financial year ended 31st March 2022. The said dividend, if declared by the shareholders in the ensuing Annual General Meeting, shall be credited/ remitted on or around 30 July 2022. Bajaj Auto In April it was informed in an exchange filing.
The dividend, if declared, shall be paid to those equity shareholders whose names appear in the register of members of the company or in the records of the depositories as beneficial owners of the shares as on Friday, the 1st July 2022, that record the date is. Fixed for this purpose, it added.
The total amount paid for dividend will be 4,051 crore, the company said. As of March 31, 2022, the company’s surplus cash and cash equivalents were 19,090 crore as against 17,689 crore as on 31st March, 2021 after payment of dividend of Rs. 4,051 crore.
Meanwhile, the board of the domestic motorcycle and three-wheeler maker will meet on Monday, June 27, 2022, to further deliberate on the proposal to buy back the fully paid-up equity shares of the company.
The auto major’s board had earlier this month deferred a decision on its proposed share buyback, after informing stock exchanges on June 9 that its board would meet on Tuesday for the buyback of fully paid equity shares. Will consider the proposal. 14 June.
Bajaj Auto is a leading manufacturer of motorcycles and three wheelers in India. Shares of Bajaj Auto have gained over 18% so far in 2022 (YTD), while the auto stock has declined nearly 8% in a span of one year.