Rs 685 Dividend Recommended: Diversified Stock Soars 9.88% As PAT Zooms 27%

Large cap company operating in diversified sector, 3M India Ltd shares soared 9.88% to Rs 33,980.70 per share on BSE. 3M India shares witnessed sharp rally of 17.71% in last 2-weeks span. Board of Directors of 3M India today recommended a hefty dividend of Rs 685 per share. The company fixed July 5, 2024 as the record date for dividend payment. 3M India shares zoomed 718% in last 10-years and 41% in last 1-year. Check more details below:

3M India Declares Whopping Dividend Of Rs 685: As per the exchange filing of 3M India issued on Tuesday, "We would wish to inform that at the Meeting of the Board of Directors of the Company held today i.e., on May 28, 2024, the Board recommended a Final Dividend of Rs. 160/- and a Special Dividend of Rs. 525/- per equity share of Rs. 10/- each, for the financial year 2023-24, subject to approval of shareholders at the ensuing 37th Annual General Meeting (AGM), scheduled to be held on August 7, 2024."

3M India Sets Record Date For Dividend: As per the regulatory filing of 3M India dated May 28, "The Board of Directors have fixed July 5, 2024 (Friday) as the Record Date for determining the entitlement of the shareholders for the payment of final and special Dividends. The Final and Special Dividend, if approved shall be paid/dispatched to the shareholders within 30 days from the date of AGM of the Company."

3M India Q4: The large cap company on May 28, 2024 declared a jump of 27.36% in its consolidated net profit to Rs 172.85 crore. The company's revenue from operations zoomed 4.64% to Rs 1094.55 crore for Q4 financial year 2024 as against the corresponding quarter of last year. Its profit before tax announced at s 230.81 crore for the quarter ended March 2024, up 25.23% year-on-year. Meanwhile, EBITDA soared 22% to Rs 229 crore for the quarter ended March 31, 2024 as compared to Rs 188 crore declared in the similar quarter of last year.

For the whole year, its consolidated net profit surged 29.36% to Rs 583.42 crore and revenue from operations zoomed 5.81% to Rs 4189.36 crore for FY 2024.

3M India Share Performance: The 52-week high price of 3M India share on BSE 39,809.65 apiece (as on 29/12/2023) and 52-week low price is Rs 23,837.80 apiece (as on 30/05/2023). The company's market cap stood at Rs 38,279.50 crore. 3M India shares fell 7% year-to-date, gained 41% in last 1-year, surged 93% in last 2-years, and offered return of 34% in last 3-years. 3M India shares zoomed 718% in last 10-years.

3M India Dividend History: 3M India announced 3 dividends since April 21, 2003. In last 1-year, 3M India announced an equity dividend amounting to Rs 100.00 per share. At the current share price of Rs 33980.70 per share, 3M India offers a dividend yield of 0.29%. FII/FPI have increased holdings from 3.56% to 3.64% in Mar 2024 quarter. Number of FII/FPI investors increased from 198 to 199 in Mar 2024 quarter. Mutual Funds have decreased holdings from 7.38% to 7.21% in Mar 2024 quarter. Number of MF schemes increased from 27 to 28 in Mar 2024 quarter. Nippon Life India Trustee Ltd-A/C Nippon India has 2.72% stake in 3M India with 306,860 shares of the company.

3M India About: 3M India Ltd (3M India) a subsidiary of 3M Co. It is an industrial equipment company. 3M India carries out the design, manufacture and distributes specialized tools and services for diverse markets, among others.

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