Apollo Tyres announces Rs 6/share dividend alongwith Q4 results

Apollo Tyres' board of directors on Tuesday, May 14, recommended a final dividend of Rs 6 per equity share for FY24, according to a stock market disclosure. This is subject to the company's shareholders' approval.

"Recommended the Dividend of Rs. 6.00 per Equity Share (i.e. 600%) on face value of Re 1 each for FY24, subject to the approval of the Shareholders at the ensuing AGM of the Company, which shall be paid/ dispatched on or before 30 days from the conclusion of the AGM," the tyre maker said in a BSE filing.

Apollo Tyres has also announced its financial results for the fourth quarter ended on March 31, 2024, along with a dividend announcement. The company's consolidated net profit declined 14 per cent to Rs 354 crore for the March 2024 quarter on account of higher expenses. Revenue from operations closed at Rs 6,258 crore in the period under review compared with Rs 6,247 crore in the fourth quarter of 2022-23 fiscal, Apollo Tyres said in a statement. Read more

Meanwhile, shares of Apollo Tyres closed at Rs 474.2 each, down 0.89 per cent on BSE today, May 14.