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Tyre Industry Stock, Paying 800% Special, 200 Final Dividend, To Turn Ex-Dividend Next Week
Goodyear's presence in India is over 90 years old, with two plants, one each in Ballabgarh and Aurangabad.
Goodyear's presence in India is over 90 years old, with two plants, one each in Ballabgarh and Aurangabad. In the passenger car segment, Goodyear India supplies tyres to many of the leading Original Equipment Manufacturers. Goodyear India has also been a pioneer in introducing tubeless radial tyres in this segment.
Now Goodyear India Ltd is all set to pay a final dividend of 200% or Rs 20 per share and a special dividend of 800% or Rs 80 per share. The market capitalization at the time of writing the story is Rs 2,495 crore. Check relevant details pertaining to dividend below:
1. Goodyear To Pay 200% Final Dividend, 800% Special Dividend
The Board of directors of the company had informed BSE in the filing dated May 26, 2022 said, "Recommended a Final Dividend of Rs. 20/-per equity share of Rs. 10 each and Special Dividend of Rs. 80/-per equity share of Rs. 10 each, for the Financial Year ended March 31, 2022. The Final and Special Dividend, if approved by the members, at the forthcoming Annual General Meeting scheduled to be held on Monday, August 01, 2022 shall be paid within the statutory time limit to those members whose names would appear in the Register of members on Monday, July 25, 2022." Ex-dividend date: It is worth noting that the ex-dividend date is 22 July, 2022.
2. Goodyear Stock Outlook
The current market price of the stock is Rs 1081.25 apiece with 52-week high at Rs 1330.30 apiece and 52-week low at Rs 844.00 apiece. Currently, the stock is trading at a discount of 23.03% from its highs. The PE of the stock is 24.29 and ROE is 14.39. It has an EPS (TTM) at 44.61. It has registered surging net cash flow and cash from operating activity.
3. Goodyear Dividend History
It has a great dividend paying history and regularly declared dividend in the last 5 years. It has declared special dividends also consecutively for two years i.e. 2021 and 2022. For the year ending March 2022, it has declared an equity dividend of 1000% or Rs 100 per share. Its dividend yield is 9.22%.
4. About Goodyear India Limited
Goodyear is one of the world's largest tire companies. It employs about 72,000 people and manufactures its products in 55 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry.
