MNC Stock With Good Dividend Yield Declares Interim Dividend, Record Date August 10: Check Detail

Castrol India-the MNC company along side its June quarterly results also announced a dividend. The interim dividend declared is Rs. 3 per share of Rs. 5 each for the financial year ending December 31, 2022. Castrol India follows January-December as its financial year.

In the release the company said, "declared an Interim Dividend of INR 3/- per equity share of INR 5/- each for financial year ending 31 December 2022. As intimated vide our letter dated 12 July 2022, the record date for reckoning the list of shareholders who shall be entitled to receive the said interim dividend shall be Wednesday, 10 August 2022. The Interim Dividend will be paid to such shareholders on or before Wednesday, 31 August 2022."

So, along with the dividend announcement, the company also clarified on the record date and the dividend payment date which is as specified in the release.

Company's June ended results:

The company's total income from operations surged YoY to Rs. 1241.71 crore in the June ended quarter of the current financial year as against Rs. 889.60 crore during the same period a year-ago. Net profit at the company also increased to Rs. 206.26 crore as against Rs. 140 crore in the same period. The company is sound financially with no debt.

Also, the dividend yield at the firm is at a good over 4% considering the last year's dividend of 110% amounting to Rs. 5.5 per share and current share price of Rs. 115.5.

About the company

Castrol India is a leader in the country in the lubricants business. The company is into manufacturing automotive as well as industrial lubricants. The company's products are offered under brands namely

Castrol POWER1 ULTIMATE, Castrol MAGNATEC, Castrol Activ, Castrol CRB Turbomax, Castrol GTX SUV, and Castrol VECTON.

The company caters to the automotive, industrial, marine, and oil and gas industries.