MRF dividend 2024: Board recommends 1940% final dividend - Check details

MRF Dividend 2024, MRF Share Price NSE, BSE: The board of directors of Tyre manufacturer MRF has recommended a final dividend of Rs 194 or 1940 per cent per equity share with a face value of Rs 10 each. 

According to an exchange filing, the company has already declared and paid two interim dividend of Rs 3 (or 30 per cent) each per equity share for the financial year ended March 31, 2024. 

The total dividend for the financial year ended March 30, 2024 works out to Rs 200 (2000 per cent) per share of Rs 10 each. 

Meanwhile, the company has reported a standalone net profit of Rs 379.55 crore for the fourth quarter of FY24, a decline of 7.6 per cent compared with the corresponding quarter a year ago. 

Its revenue increased 8.6 per cent on a year-on-year basis to Rs 6,215.1 crore, according to a regulatory filing.

The Chennai-headquartered tyre manufacturer's margin, a key measure of profitability, contracted by 50 basis points (bps) to 14.2 per cent for the final three months of the financial year 2023-24. 

Meanwhile, the counter was trading at Rs 1,28,529.55, down by around 4 per cent from the previous close of Rs 1,33,926.25. The 52-week high of the share is Rs 1,51,283.40 and the 52-week low is Rs 93,060.30.

According to BSE analytics, the counter has given a return of 37.12 per cent in one year and 76.61 per cent in two years.