This Mid-Cap Engineering Sector Stock Fixes Record Date To Pay 525% Dividend

Formed in 1962, the largest entity of Cummins in India, Cummins India Limited is the country's leading manufacturer of diesel and natural gas engines. One of the seven legal entities of the Cummins Group in India, Cummins India Limited comprises three business units - Engine, Power Systems, and Distribution.

Cummins India Ltd has fixed record date to pay 525% dividend. The market capitalization of the company is Rs 31,977 crore. Check details below:

1. Cummins India Ltd To Pay 525% Dividend

It has declared an equity dividend of 525% on May 26, 2022. The company on July 16 informed BSE in its filing, "The Company has fixed Wednesday, August 03, 2022, as the Record Date to determine the Members eligibility to receive Dividend recommended by the Board of Directors of the Company in their Meeting held on May 26, 2022, for the Financial Year 2021-22. The payment of dividend shall be made on September 06, 2022, subject to approval of Members at the 61st AGM of the Company."

The record date for 525% final dividend is August 3, 2022 and the ex-dividend date is August 2, 2022.

2. Cummins India Ltd Stock Outlook

The current market price of the stock is Rs 1153 apiece with the 52-week high at Rs 1181 apiece and 52-week low 747 apiece, respectively. It is a company with high TTM EPS growth. The PE of the stock is 34.25 which is lesser than sector PE of 31.71. Cummins India has given a return of 5.53% in 1 week, 18 % in 1 month, 7% in 3 months, 34% in 1 year, 56% in 3 years, and 23% in 5 years.

3. Cummins India Ltd Dividend History

It has a good dividend history and declared dividends in the last 5 years regularly. It has declared an equity dividend of 925% or Rs 18.5 per share for the year ending March 2022 The dividend yield is 1.6%.

4. Cummins India Ltd Overview

Cummins India Limited is a 51 percent subsidiary of Cummins Inc. It manufactures engines from 60 HP for low, medium and heavy-duty on-highway commercial vehicle markets and off-highway commercial equipment industry spanning construction and compressor. It designs and manufactures high horsepower engines from 700 HP to 4500 HP for marine, railways, defense and mining applications. It provides products, packages, services and solutions for uptime of Cummins equipment.