Hero MotoCorp dividend 2023: Auto major announces Rs 35 per share or 1750% final dividend - check record date

Hero MotoCorp dividend: Automobile major Hero MotoCorp on Thursday announced  a final dividend of Rs 35 per share. The Rs 35 dividend payout translates to 1750 per cent against the face value of Rs 2 per equity share.

"The Board of Directors at its meeting held today, viz. May 4, 2023, recommended final dividend subject to approval of members @ 1750% i.e. Rs. 35 per share (face value of Rs. 2 per equity share). The dividend, if declared at the ensuing AGM, will be paid by September 8, 2023," Hero Moto said in an exchange filing.

The company declared a final dividend of Rs 35 per share taking the total dividend for the year to Rs 100 per share, which translates 5000 per cent on face value of Rs 2 per share.

Hero MotoCorp dividend: Payment Date

The leading two-wheeler manufacturer said that the dividend, if declared at the AGM, will be paid by September 8, 2023.

It also informed in the exchange filing that the 40th Annual General Meeting (AGM) of the company will be convened on Wednesday, August 9, 2023. 

The company announced that its transfer of books and register of members will be closed before the annual AGM between July 28 and August 9, to determine the members who are eligible for the final dividend payout. 

"Pursuant to Regulation 42 of Listing Regulations, the Register of Members and Share Transfer Books of the Company will remain closed from Friday, July 28, 2023 till Wednesday, August 09, 2023 (both days inclusive) for the purpose of 40th AGM and determining entitlement of the members for the final dividend (if declared at the AGM)," the exchange filing stated.

Hero MotoCorp Q4 Results

Meanwhile, Hero MotoCorp net profit for the March quarter came in at Rs 859 crore, registering a growth of 37 per cent over Rs 627 crore the company had reported in previous year in the same quarter. For the fiscal year, net profit stood at Rs 2,911 crore, posting a growth of 18 per cent.

Hero MotoCorp's revenue from operations in the March quarter came in at Rs 8,307 crore, posting a growth of 12 per cent in the corresponding quarter in the previous fiscal. For the entire fiscal, revenue stood at Rs 33,806 crore, clocking a growth of 16 percent over the previous year.

Hero MotoCorp's Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for Q4FY23 stood at Rs 1,083 crore, while or FY23, it stands at Rs 3,986 crore.

Hero MotoCorp Q4 Results: What the management said?

Commenting on the results, Niranjan Gupta, chief executive officer (CEO), Hero MotoCorp said, "The company has been able to drive margin expansion and profitable growth this quarter through a judicious combination of pricing, savings, and mix."

Gupta also said that in the coming fiscal, Hero Moto has lined up a slew of product launches in different segments with an aim to strengthen our premium portfolio as well as premiumization of existing models, which will help us deliver improvement in market share.

The company will also be accelerating its electric vehicle (EV) roll out, with plan to be in 100 cities within this calendar year, he added.