India Current Update

800% Dividend in FY23; Third Interim Dividend in FY24 to Be Considered for Tyre Stock; Record Date Set

<p><strong>Dividend for Balkrishna Industries</strong><br />
“Notice is hereby given that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, the 24th of January, 2024, interalia, to consider and approve: (i) Unaudited financial results (Standalone & Consolidated) of the Company for the quarter and nine months ended December 31, 2023; (ii) Declaration of 3rd Interim Dividend on equity shares for the financial year 2023-24, if any; and pursuant to Regulation 29 and Regulation 50 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.” According to a stock market filing by Balkrishna Industries, the equity shareholders whose names are listed in the company’s Register of Members on the record date of February 2, 2024, would receive the third interim dividend, if declared, for the fiscal year 2023–2024.</p>
<p><img decoding=”async” class=”alignnone wp-image-361158″ src=”” alt=” 800 dividend in fy23 third interim dividend in fy24 to be considered for tyre stoc” width=”1076″ height=”606″ title=”800% Dividend in FY23; Third Interim Dividend in FY24 to Be Considered for Tyre Stock; Record Date Set 9″ srcset=” 600w,×220.jpg 390w,×85.jpg 150w” sizes=”(max-width: 1076px) 100vw, 1076px” /></p>
<p><strong>Income from Balkrishna Industries Dividend</strong><br />
For the year ending in March 2023, Balkrishna Industries has declared an equity dividend of 800.00% at a face value of Rs 2, or Rs 16 per share. At the present share price of Rs 2763.20, the dividend yield is 0.58%. The company has a solid dividend track record and has paid dividends on a regular basis for the last five years. Trendline records show that from September 4, 2002, Balkrishna Industries Ltd. has distributed 54 dividends.</p>
<p><strong>The pattern of Balkrishna Industries’ Shareholding</strong><br />
In Q3FY24, the promoters’ ownership was recorded at 58.30%, followed by FIIs at 12.69%, DIIs at 21.32%, the government at 0.10%, and the public at 7.59%. The insurance behemoth LIC owned 73,16,875 shares of BKT for the October through December 2023 quarter, representing 3.78% of the company’s total paid-up share capital.</p>

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