Rs 140/Share Dividend: Large Cap Auto Stock To Go Ex-Dividend After 4-Days

Large cap auto sector stock, Bajaj Auto Ltd on April 25, 2023 declared Rs 140 per share dividend. The company fixed June 30, 2023 as the record date. Bajaj Auto shares will remain in focus this week as shares will trade ex-dividend on June 30, 2023 for 1400% dividend for the FY 2023. In last 3-months, Bajaj Auto shares delivered 20% return in just last 3-months and 29% return YTD (year-to-date). Check details pertaining to Bajaj Auto stock below:

Bajaj Auto Ltd Dividend: As per the BSE filing of the Bajaj Auto, "In line with the Company's Dividend Distribution Policy, the Board of Directors has approved I recommended a dividend at the rate Rs.140 per share (1400%) of face value of Rs. 1 0 each on equity shares 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 around 28 July 2023."

Record Date: The company fixed June 30, 2023 as the record date for the dividend.

Dividend Yield: If Bajaj Auto's current share price of Rs 4615.20 apiece is taken in to consideration, it offers a dividend yield of 3.03%.

Bajaj Auto Stock Performance & Return: Last trading price of Bajaj Auto share is Rs 4615.20 per share with marginal intraday gain of 0.07%. The stock witnessed spurt in volume by over 2.99 times on June 23. The stock's 52-week high price is quoted at Rs 4828.80 apiece and 52-week low price is quoted at Rs 3462.05 apiece, respectively. The company has a market capitalisation of Rs 1,30,703.66 crore.

Bajaj Auto Financial Outlook: The company's fourth quarter standalone net profit announced at Rs 1432.88 crore, down 2.5% for FY 2023. It was declared 1468.95 crore during the same quarter last year. But, Bajaj Auto's revenue jumped for the quarter ended March 2023 to Rs 8904.7 crore, up 12% as against Rs 7975 crore declared in the same quarter last year. Its EBITDA maintained its strong run, growing 26% YoY to Rs 1,718 crore, with margin accretion of 220 bps to 19.3 percent. Sequentially, across quarters, price realisation and material costs held flat with favourable mix driving the slight uptick, it said.

Bajaj Auto About: It is a flagship company of the Bajaj Group. It was incorporated under the Companies Act, 1956, with registered office at Mumbai. Its manufacturing facilities are located at Chakan near Pune, Waluj near Aurangabad, and at Pant Nagar in Uttarakhand, according to its official website.

Disclaimer: The large cap auto stock will go ex-dividend in just 4-days. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.