The company had fixed November 19 as the record date for determining the eligibility of the shareholders for the said dividend.
“In the said Meeting, the Board of Directors has declared an Interim Dividend of Rs.3/ -per equity share [30%] for the financial year ending 31st March, 2025-:-The Company has fixed Tuesday, 19th November, 2024 [19.11.2024], as the record date for the purpose of payment of Interim Dividend,” said the company in an exchange filing.
This means today is the last day to buy the shares of the company to be eligible for the said dividend. After implementation of the T+1 framework, the record date and ex-date are the same in most cases unless there is a market holiday after the ex-date
Shareholders who buy the stock at least one day before the ex-date are eligible for dividends as settlement happens the next day. Those buying the stock on the ex-date are not eligible for dividends/splits/bonus issues etc.
The company further informed that the dividend will be paid to the eligible shareholders on or before November 29.In the past 12 months, MRF has declared an equity dividend amounting to Rs 200 per share and at a share price of Rs 1,20,551.75, the company’s dividend yield is 0.17%.The tyre maker reported a 20% decline in its standalone net profit at Rs 455 crore for the quarter ended September 2024. The same stood at Rs 572 crore in the year-ago quarter.
Revenue from operations in the reporting period rose 11% YoY to Rs 6760 crore.
Also read: Morgan Stanley sees 31% upside in Zomato, believes QC might surprise
The company reported an EBITDA of Rs 974 crore in the July-September 2024 period, which was down about 14% compared with Rs 1129 crore reported in the previous year period.
Meanwhile, margins also declined to 14.4% in the reporting second quarter.
The shares of MRF closed flat at Rs 1,20,662.55 on the BSE on Thursday.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)