Goodyear Shares Surge 18% After Announcing Dividend Of Rs 80 Per Share

On Monday, shares of Goodyear India Limited surged 19% to Rs 1,035 from Rs 877.45 in the previous close, after the company's board approved an interim dividend of Rs 80 per equity share of the face value of Rs 10 each, for the financial year 2020-21.

The company has fixed 15 December 2020 as the interim date of the dividend for the purpose.

"Pursuant to Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Board of Directors of the Company at its meeting held today i.e., Monday, December 07, 2020, inter-alia considered and declared interim dividend of Rs. 80 per equity share of face value of Rs. 10/- each, for the Financial Year 2020-21," the company said in a stock exchange filing.

"The Interim Dividend shall be paid within the statutory time limit and the Record Date for the purpose of determining the entitlement of the Members for the interim dividend has been fixed as December 15, 2020, already intimated on December 02, 2020 for the purpose."

The US-headquartered tyre company has recently forayed into automotive lubricants segment in India. The company has collaborated with Assurance International, a part of Satya Group, for a new line of engine oils that will be manufactured, sourced and distributed in the country to complement Goodyear's tyre product portfolio in the region.

The company's lubricants product portfolio would cater to all kinds of vehicles, including commercial and passenger vehicles and two-wheelers.