175% dividend: JK Tyre & Industries announces FY24 dividend alongwith Q4 earnings, check details

JK Tyre's board of directors on Tuesday, May 21, recommended a final dividend of Rs 3.50 per equity share for FY24, according to a stock market disclosure. This is subject to the company's shareholders' approval.

"The Board at its meeting held today, which commenced at 1.45 P.M. and concluded at 4.50 PM, inter alia. considered and approved (Standalone and Consolidated) financial results for the financial year/quarter ended 31st March 2024 and recommended a final dividend of Rs' 3'50 per EquitY ShaFe of Rs. 2 each (175%) for the financial year ended 31st March 2024, in addition to Interim Dividend of Re. 1.0 per Equity Share of Rs 2 each (50%) which has already been paid, i.e., a total dividend of Rs, 4.50 per equity share (225%) for the said financial year," the company said in a BSE filing.

If declared, JK Tyre plans to pay the dividend within two weeks of the said meeting.

JK Tyre Q4 earnings

The tyre maker's consolidated net profit increased 54 per cent to Rs 172 crore for the fourth quarter that ended on March 31, 2024, on account of higher sales. Its total income rose to Rs 3,714 crore for the fourth quarter as compared with Rs 3,645 crore in the year-ago period, JK Tyre said in a statement.

The company said it achieved the highest-ever sales and profits during FY24.

"This performance is attributed to our continued focus on product premiumisation, widening market reach, and tech-enabled manufacturing and digitalisation across operations achieving better efficiencies," JK Tyre Chairman and MD Raghupati Singhania said.

Meanwhile, shares of JK Tyre closed at Rs 404.3 each, up 0.36 per cent on BSE today, May 21.