1,880% Dividend: This auto component firm fixes record date for Rs 94 interim dividend - Do you own?

TVS Holdings Dividend 2024 Record Date: TVS Holdings, formerly Sundaram Clayton, has announced an interim dividend of whooping 1,888 per cent or Rs 94 per share for the financial year ending March 31, 2024. The company will pay the dividend on 2.02 crore equity shares with a face value of Rs 5 each.

"Declared an interim dividend of Rs. 94/- per share (1,880%) on 2,02,32,104 equity shares of Rs.5/- each fully paid up, absorbing a sum of Rs. 190 Cr, for the financial year ending 31st March 2024," the company said in an exchange filing.

TVS Holdings Dividend 2024 Record Date

According to the exchange filing, the company will be spending a total of Rs 190 crore for the payment of dividend. It has also fixed a record date to identify the eligibility of the shareholders for this corporate action.

The company has fixed April 2, 2024 as the record date for the payment of Rs 94 payout, which is the highest-ever dividend declared by the company. 

TVS Holdings Dividend 2024 Payment Date

The dividend payment will made within a period of 30 days from the declaration of the interim dividend.

TVS Holdings Dividend History

Earlier, the company had declared an interim dividend of Rs 59 per equity share in February 2023 and Rs 44 interim dividend in March 2022. Here is the TVS Holdings Dividend History

TVS Holdings Share Price

The counter opened at Rs 8100.95 on Friday i.e. March 22. It surged around 5.5 per cent from the previous close of Rs 7982.65 per cent to the high of Rs 8429 in early trade. 

The scrip has given a return of 104 per cent in one year, according to BSE analytics. 

Meanwhile, TVS Holdings has announced that its board has approved a proposal to raise up to Rs 650 crore next fiscal through non-convertible debentures.

TVS Holdings is one of the largest auto components manufacturing and distribution groups in the country.

It is a leading supplier of aluminium die castings to the automotive and non-automotive sectors. Shares of the company on Thursday ended 2 per cent up at Rs 8,098 apiece on the BSE.

The company's board also declared an interim dividend of Rs 94 per share of Rs 5 each, absorbing a sum of Rs 190 crore in the current fiscal.