Midcap Holding Stock Recommends 600% Final Dividend, Fixes Record Date; Details Inside

Maharashtra Scooters Ltd. on Monday, April 24, 2023, recommended a 600% final dividend for the financial year 2022-23. The company is a subsidiary of Bajaj Holdings and Investment Limited. It is a midcap holding company having a market capitalisation of Rs 5,231.37 crore.

Recommended 600% final Dividend

The company in its exchange filing on 24th April 2023, said, "Kindly further note that final dividend of Rs. 60 per share (600%) of face value of Rs. 10 each on equity shares of the Company has been recommended by the Board of Directors today 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 28 July 2023 and / or 29 July 2023."

It added, "Further, pursuant to Regulation 42 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, 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."

Stock Overview

On Monday, the stock of Maharashtra Scooters last traded at Rs 4,577.45 apiece, up 0.59% from the previous close. It touched the 52 week high Rs 5,602 apiece on 15 November 2022 and 52 week low Rs 3,369.5 apiece on 13 May 2022, respectively.

The stock has delivered 2.2% positive return in 1 week, and 10.47% in 1 month, respectively. It has given 15.88% positive return in 1 year. In 3 and 5 years it has given 135.18% positive return and 87.72% in 5 years, respectively.

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