This Auto Stock Paying 800% Dividend To Turn Ex-Dividend In Few Hours: Here Is Record Date

Maharashtra Scooters Ltd, incorporated in 1975, is set to pay equity dividend to its shareholders. The board of directors had earlier recommended a dividend at the rate of Rs 80 per share on April 25, 2022. Check all the key details to receive dividend:

Maharashtra Scooters Ltd To Pay 800% Dividend

The board of directors of Maharashtra Scooters Ltd stated in their BSE filing, "Kindly further note that a dividend at the rate of Rs. 8 0 per share ( & o o %) of face value of Rs. 1 O 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 I or 30 July 2022."

Record Date and Ex-Dividend Date: The record date for the dividend has been fixed July 1, 2022 while the ex-dividend date is June 30, 2022.

2. Maharashtra Scooters Ltd Stock Outlook

The current market price of the stock of the company is Rs 3,759 apiece. It has touched a 52-week high of Rs 5050 apiece and 52-week low of Rs 3311 apiece. It has registered robust annual EPS growth. The PE is recorded at 30.11 which is higher than sector PE of 24.70. The EPS is 124.87. The market capitalization of the company is Rs 4319 crore. It has given a good return of 100.98% in the last 5 years. It has also beaten 3 year revenue CAGR (Compound Annual Growth Rate). Its annual revenue growth of 533.12% outperformed its 3 year CAGR of 26.26%.

3. Maharashtra Scooters Ltd Dividend History

It has a good dividend track record and declared dividend regularly for the last 5 years. The dividend yield is 2.14% if the current share price of Rs 3759 is considered. In the year 2021, it had declared an equity dividend of 500% amounting to Rs 50 per share. It declared an interim dividend of 500% in 2020 equal to Rs 50 per share.

4. Maharashtra Scooters Ltd Company Overview

The Company started manufacture of "Priya" brand of motorised geared scooters from 13th August, 1976, in technical know-how / collaboration with erstwhile BAL. Subsequently, the Company started manufacture of "Bajaj Super" / "Bajaj Chetak" models of scooters and with the gradual shift in consumer preferences from geared scooters to the motorcycles, the Company discontinued production of geared scooters effective 1st April, 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, according to its website.