Bonanza for shareholders! Bajaj Auto declares dividend of Rs 140 per share

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Two-wheeler major Bajaj Auto on April 29 announced a dividend of Rs 140 per share in its Q4 results. The company said the amount will be credited by July 27.

“The company’s surplus is in excess of Rs 15,000 crore, in line with company’s dividend distribution policy, the board of directors has approved a dividend at the rate of 90% of standalone PAT, or Rs 140 per share on the face value of Rs 10 each,” Bajaj Auto said in a regulatory filing.

On the other hand, the company posted a 14.57% growth in consolidated net profit at Rs 1551.28 crore for the quarter ended March 31. It had posted a profit of Rs 1353.99 crore in the same period last year. Consolidated total revenue from operations increased 26% YoY to Rs 8596.10 crore.

As of March 31, surplus cash and cash equivalents stood at Rs 17,689 crore as against Rs 14,322 crore last year.

Shares of the company closed 1.44% down at Rs 3834.25 on Thursday, while the benchmark BSE Sensex settled 32 points higher at 49,765.

The company sold 4,87,731 two-wheelers in Q4FY21 over 4,03,084 units in Q4FY20. Overall, exports continue to perform very well with sales of over 6,35,000 units against 5,13,801 for the corresponding quarter last year.