Multibagger Engineering Stock Sets Record Date For Dividend Payment

Multibagger mid cap engineering sector stock, Timken India Ltd fixed August 4, 2023 as the record date for the purpose of dividend payment, if announced at the 36th Annual General Meeting of the Company. Timken India shares rallied 117% in last 2-years and 366% in last 3-years. Check details below:

Timken India Fixes Record Date For Dividend: As per the BSE filing of Timken India dated July 10, 2023, "Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we write to inform you that the Company has fixed Friday, 4 August, 2023 as record date for the purpose of payment of dividend, if declared at 36th Annual General Meeting of the Company."

Earlier this year on May 17, Timken said in its exchange filing, "The Board has recommended dividend of Rs. 1.5/- per equity share of Rs 10 each fully paid up for the year ended 31 March, 2023. This dividend will be paid to eligible shareholders after obtaining approval of the members of the Company at ensuing Annual General Meeting."

Timken India Stock Performance & Return Over The Years: Last trading price of Timken India share is Rs 3380.00 per share on BSE. Its 52-week high price is Rs 3760.80 per share and 52-week low price is Rs 2518.70 per share, respectively. The company has a market capitalisation of Rs 25,423.93 crore. In last 1-year, Timken India shares delivered return of 32%, 117% return in last 20-years, 242% upside in last 3-years, and gain of 366% in last 5-years. Timken India stock jumped 2016% in last 5-years.

Timken India Recent Quarter Financial Performance: Timken India for the quarter ended March 31, 2023 declared its standalone total income at Rs 809.20 crore, up 29.72% as compared to its last quarter total income of Rs 623.80 crore. The company declared its latest quarter net profit after tax at Rs 104.51 crore.

About: The Timken Company is a world leader in tapered roller bearings. TISCO and TIMKEN each held 40% equity stake in the company and the public held the rest. In 1999, Timken acquired from Tata Steel its 40% stake in Tata Timken Limited. The name of the Company was changed to Timken India Limited on July 2, 1999.
Timken India Limited, a Timken Company subsidiary, started manufacturing bearings in India nearly three decades ago and today has state-of-the-art manufacturing plants in Jamshedpur and Bharuch to serve local bearing market needs and beyond, according to its official website.

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