This Auto Ancillary Company Recommends Rs. 80/Share Dividend: Check Details

Dividends are a great way to supplement your primary income and if you also bet on dividend stocks then this auto ancillary company with a m-cap of Rs. 4516 crore- Maharashtra Scooters has recommended an enticing dividend of Rs. 80 per share.

About the company

Maharashtra Scooters is the company that is the manufacturer of the famous 'Priya' brand of motorised geared scooters. The company manufactured it in collaboration with erstwhile BAL. The company is primarily a subsidiary of Bajaj Holdings and Investment Limited (erstwhile Bajaj Auto Limited) and is listed on BSE Ltd and National Stock Exchange Limited.

Later the company as per the consumer preference discontinued the manufacture of geared scooters ever since 2006. The manufacturing activity of the Company is currently restricted to the manufacture of pressure die casting dies, jigs and fixtures, primarily meant for two and three - wheeler industry.

Dividend related details:

In its filing dated April 25, the company said "that a dividend at the rate of Rs. 80 per share (800%) of face value of Rs. 10 each on equity shares of the Company has been recommended by the Board of Directors today 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 29 July 2022 and/or 30 July 2022. Further, pursuant to Regulation 42 of the SEBI (listing Obligation and Disclosure Requirements) Regulations, 2015, the record date for the purpose of determining the members eligible to receive the dividend for the financial year ended 31 March 2022, has been fixed as Friday, 1 July 2022.

Company's latest financials:

For the latest March ended quarter, the company has seen a decline in both revenues from operations as well as net profit. Net profit at the concern has reduced from Rs. 2.81 crore in the same quarter a year back to Rs. 1.57 crore now.

Disclaimer:

The company has been consistently paying off dividends, neverthless the stock buy or stock picks to be added to one's portfolio should prominently be offering growth prospects as in stock price appreciation in the medium to long run.