800% Dividend In FY23: Tyre Stock To Consider 3rd Interim Dividend In FY24; Record Date Fixed

As of Saturday's closing session, Balkrishna Industries (BKT), a large-cap firm in the consumer discretionary category, has a market capitalization of Rs 53,417.41 Cr. BKT has been at the forefront of developing and producing safe, cutting-edge, and performance-oriented tyres for a variety of specialised markets, such as the mining, construction, agricultural, and earthmoving sectors. The company has been doing this for more than 30 years. Balkrishna Industries' shares closed 4.60% higher at Rs 2763.20 on the BSE after reaching a new 52-week high of Rs 2,793.70 during Saturday's closing session. This followed the company's announcement that it will shortly consider offering the third interim dividend for FY24.

Balkrishna Industries Dividend

"Notice is hereby given that pursuant to Regulation 29 and Regulation 50 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, the 24th January, 2024 interalia, to consider and approve: (i) Unaudited financial results (Standalone & Consolidated) of the Company for the quarter and nine months ended 31st December, 2023 (ii) Declaration of 3rd Interim Dividend on equity shares for the financial year 2023-24, if any. The 3rd Interim Dividend for financial year 2023-24, if declared, shall be paid to the equity shareholders whose name appears on the Register of Members of the company on the record date i.e. 2nd February, 2024," said Balkrishna Industries in a stock exchange filing.

Balkrishna Industries Dividend Yield

Balkrishna Industries has announced an equity dividend of 800.00% at a face value of Rs 2 for the year ending in March 2023, or Rs 16 per share. The dividend yield at the current share price of Rs 2763.20 is 0.58%. For the past five years, the firm has regularly handed out dividends and has a strong dividend track record. Balkrishna Industries Ltd. has issued 54 dividends since September 4, 2002, according to Trendlyne statistics.

Balkrishna Industries Shareholding Pattern

During Q3FY24, the company booked promoters' shareholding of 58.30%, FIIs stake of 12.69%, DIIs stake of 21.32%, Govt stake of 0.10% and public stake of 7.59%. For the October to December 2023 quarter, insurance giant LIC held 73,16,875 shares of BKT which is 3.78% total paid-up share capital of the company.