Bajaj Auto has a good and consistent record of paying dividends. The company along side its quarterly results announcement also declared a hefty dividend.
Bajaj Auto-Dividend details
The release by the company said, "n line with the Company's Dividend Distribution Policy, the Board of Directors has approved/ recommended a dividend at the rate Rs. 140 per share (1400%) of face value of Rs. 10 each on equity shares for the financial year ended 31 March 2022. The said dividend, if declared by the shareholders at the ensuing Annual General Meeting, will be credited/dispatched on or around 30 July 2022. The Dividend, if declared, shall be paid to the equity shareholders whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Friday, 1 July 2022, which is the Record Date fixed for the purpose.
So, the record date turns out to be July 1, while the dividend payment shall be on or around July 30, 2022.
Bajaj Auto-Q4fy22 results
The company's net profit has inched higher YoY to Rs. 1469 crore as against Rs. 1332 crore. Also, it was a sequential rise. The increase in profit despite a drag on the total revenue from operations to Rs. 7975 crore has been given the exceptional item amounting to Rs. 315 crore that was accrued as incentive receivable from the Maharashtra government under an incentive scheme.
The above stock is discussed precisely for its dividend declaration and the buy should be initiated only after careful analysis.