Bajaj Group's Large Cap Stock Declares 1500% Dividend, Announces Record Date; Know More

Bajaj Group's Large cap stock Bajaj Finance Ltd. in its Board meeting held on Wednesday, April 26, 2023, recommended a dividend of Rs 30 per equity share i.e. 1500% of face value of Rs 2 each for the financial year ended 31st March 2023. In addition, it also announces the record date for the recommended dividend as Friday, 30 June 2023.

The recommended dividend is subject to the company's shareholder approval at the ensuing Annual General Meeting scheduled on or about 28 July 2023 or 29 July 2023.

Bajaj Finance is a leading arm of Bajaj Finserv Limited. It is one of the most diversified NBFCs in the Indian Market. It has a market capitalisation of Rs 2,16,622 crore.

Recommended Dividend on equity shares for the year ended 31 March 2023

The company in an exchange filing has said, "In line with the Company's Dividend Distribution Policy, the Board of Directors have recommended a dividend on equity shares at the rate of Rs. 30 per share (1500%) of face value of Rs. 2 each. for the financial year ended 31 March 2023. The said dividend, if declared, by the shareholders at the ensuing Annual General Meeting, will be credited/dispatched on or about 28 July 2023 or 29 July 2023."

It added, "Further, pursuant to Regulation 42 of the SEBI Listing Regulations, the record date for the purpose of determining the members eligible to receive the dividend for the financial year ended 31 March 2023, has been fixed as Friday, 30 June 2023."

Bajaj Finance Stock's Outlook

The stock's last trading price is Rs 6,200.05/share, 2.38% high as compared to the previous close of Rs 6,055.95/share. Ist 52 week high is Rs 7,778/share and 52 week low is Rs 5,220/share.

It gained 4.86% in 1 week. It has given 10.85% in 1 month, however, it has fallen 7.66% in 1 year. It has given a robust positive return of 203.32% in 3 years and 226.12% in 5 years, respectively

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