MRF Ltd Board recommend Final Dividend of Rs. 94 & Special Dividend of Rs. 50

The Board of Directors of the Company at its meeting held on June 07, 2021, have recommended a final dividend of Rs. 94/- (940%) per share of Rs.10 each. The Company has already declared and paid two interim dividends of Rs.3/- each (30%) per share for the financial year ended March 31, 2021.

In addition to the final dividend, the Board has recommended a special dividend of Rs. 50/- (500%)per share of Rs.10 each in connection with the 60th Annual General Meeting of the Company. The year 2021 also marks the completion of 75 years of establishment of Madras Rubber Factory (which was originally established in 1946 as a proprietorship concern for manufacture of toy balloons). Madras Rubber Factory later took up manufacture of tread rubber at which time it was converted into a partnership concern. Subsequently during the year 1960, it was converted into a limited company after which it started manufacture of automotive tyres and tubes.

The total dividend for the financial year ended March 31, 2021(including the special dividend) works out to Rs.150/- (1500%)per share of Rs.10 each.

Shares of MRF LTD. was last trading in BSE at Rs.84950 as compared to the previous close of Rs. 84459.3. The total number of shares traded during the day was 421 in over 360 trades.

The stock hit an intraday high of Rs. 85321.3 and intraday low of 84293.6. The net turnover during the day was Rs. 35704771.

Source : Equity Bulls

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